IDEAYA Biosciences (NASDAQ:IDYA) Hits New 1-Year Low – Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $16.93 and last traded at $17.03, with a volume of 82861 shares traded. The stock had previously closed at $17.43.

Analyst Ratings Changes

Several equities analysts recently issued reports on IDYA shares. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Wedbush reissued an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Finally, Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.58.

IDEAYA Biosciences Trading Down 2.8 %

The firm has a market cap of $1.48 billion, a P/E ratio of -5.15 and a beta of 0.76. The company’s 50-day moving average is $20.90 and its two-hundred day moving average is $26.05.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The company had revenue of $7.00 million during the quarter, compared to the consensus estimate of $7.00 million. Research analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Several institutional investors have recently made changes to their positions in the company. State Street Corp lifted its holdings in IDEAYA Biosciences by 15.4% during the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after acquiring an additional 443,640 shares during the period. Barclays PLC raised its stake in shares of IDEAYA Biosciences by 188.8% during the 3rd quarter. Barclays PLC now owns 181,170 shares of the company’s stock worth $5,739,000 after purchasing an additional 118,438 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of IDEAYA Biosciences by 12.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 689,073 shares of the company’s stock worth $21,830,000 after buying an additional 78,518 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of IDEAYA Biosciences in the 3rd quarter worth about $246,000. Finally, RA Capital Management L.P. bought a new position in IDEAYA Biosciences during the third quarter valued at about $42,681,000. Institutional investors 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.