IDEAYA Biosciences (NASDAQ:IDYA) Sets New 52-Week Low – Here’s Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $27.50 and last traded at $27.51, with a volume of 172637 shares. The stock had previously closed at $29.47.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IDYA shares. Lifesci Capital raised IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. UBS Group began coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 target price for the company. Stifel Nicolaus raised their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Citigroup lowered their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Wedbush reissued an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a research report on Monday, November 4th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.91.

IDEAYA Biosciences Price Performance

The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -11.43 and a beta of 0.86. The stock has a fifty day simple moving average of $31.42 and a 200-day simple moving average of $36.36.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. As a group, equities analysts expect that IDEAYA Biosciences, Inc. will post -2.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its holdings in IDEAYA Biosciences by 5.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock valued at $288,000 after purchasing an additional 332 shares in the last quarter. KBC Group NV raised its position in shares of IDEAYA Biosciences by 29.1% during the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock worth $72,000 after purchasing an additional 513 shares during the last quarter. Amalgamated Bank boosted its holdings in IDEAYA Biosciences by 22.9% in the 3rd quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock worth $90,000 after buying an additional 530 shares during the last quarter. US Bancorp DE increased its stake in IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after buying an additional 689 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in IDEAYA Biosciences by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock worth $94,000 after buying an additional 796 shares in the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.