IDEAYA Biosciences (NASDAQ:IDYA) Sets New 12-Month Low – Here’s Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares hit a new 52-week low on Tuesday . The stock traded as low as $21.76 and last traded at $21.94, with a volume of 34428 shares traded. The stock had previously closed at $22.42.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Leerink Partners lowered IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. UBS Group started coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Leerink Partnrs cut shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, IDEAYA Biosciences presently has an average rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Stock Performance

The stock has a market capitalization of $1.90 billion, a PE ratio of -9.42 and a beta of 0.82. The stock’s 50 day moving average is $24.60 and its two-hundred day moving average is $30.18.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, February 18th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.86). Equities research analysts expect that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV grew its holdings in IDEAYA Biosciences by 29.1% in the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after buying an additional 513 shares in the last quarter. Amalgamated Bank increased its position in IDEAYA Biosciences by 22.9% during the third quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock worth $90,000 after purchasing an additional 530 shares during the last quarter. Rhumbline Advisers raised its stake in IDEAYA Biosciences by 0.5% during the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company’s stock worth $2,919,000 after purchasing an additional 585 shares during the period. US Bancorp DE boosted its holdings in IDEAYA Biosciences by 67.2% in the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after purchasing an additional 689 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of IDEAYA Biosciences by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock valued at $94,000 after buying an additional 796 shares during the period. Institutional investors and hedge funds own 98.29% of the company’s stock.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.