IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Up to $12.91

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA – Get Rating) gapped up prior to trading on Wednesday . The stock had previously closed at $12.91, but opened at $13.20. IDEAYA Biosciences shares last traded at $13.07, with a volume of 336 shares trading hands.

A number of equities research analysts have issued reports on IDYA shares. Wedbush reiterated an “outperform” rating and issued a $34.00 target price on shares of IDEAYA Biosciences in a research note on Wednesday, March 16th. Stifel Nicolaus upgraded IDEAYA Biosciences from a “hold” rating to a “buy” rating and cut their target price for the company from $27.00 to $20.00 in a research note on Thursday, March 10th. Finally, Roth Capital raised their target price on IDEAYA Biosciences from $42.00 to $46.00 in a research note on Tuesday, May 17th.

The business’s 50 day moving average is $10.84 and its two-hundred day moving average is $14.20. The firm has a market capitalization of $534.00 million, a P/E ratio of -9.40 and a beta of 1.75.

IDEAYA Biosciences (NASDAQ:IDYA – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.05. IDEAYA Biosciences had a negative net margin of 170.82% and a negative return on equity of 19.08%. The firm had revenue of $11.36 million for the quarter, compared to analysts’ expectations of $8.50 million. On average, equities research analysts predict that IDEAYA Biosciences, Inc. will post -1.73 EPS for the current year.

A number of institutional investors have recently modified their holdings of IDYA. Goldman Sachs Group Inc. raised its position in IDEAYA Biosciences by 49.1% in the third quarter. Goldman Sachs Group Inc. now owns 55,884 shares of the company’s stock worth $1,424,000 after acquiring an additional 18,410 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in IDEAYA Biosciences by 4.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,114 shares of the company’s stock worth $436,000 after purchasing an additional 681 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in IDEAYA Biosciences in the 3rd quarter worth about $2,337,000. Invesco Ltd. purchased a new position in IDEAYA Biosciences in the 3rd quarter worth about $6,173,000. Finally, Janus Henderson Group PLC purchased a new position in IDEAYA Biosciences in the 3rd quarter worth about $6,835,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

About IDEAYA Biosciences (NASDAQ:IDYA)

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's lead product candidates include IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase I clinical trial for patients with solid tumors having methylthioadenosine phosphorylase deletions; and IDE196, a protein kinase C inhibitor that is in Phase I/II clinical trial for genetically defined cancers having GNAQ or GNA11 gene mutations.

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