IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Down 7.5%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA – Get Rating) fell 7.5% during trading on Friday . The company traded as low as $14.52 and last traded at $14.58. 130,800 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 348,890 shares. The stock had previously closed at $15.76.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IDYA. Capital One Financial began coverage on shares of IDEAYA Biosciences in a research report on Wednesday, December 28th. They issued an “overweight” rating and a $29.00 target price on the stock. Oppenheimer boosted their price target on shares of IDEAYA Biosciences from $22.00 to $26.00 in a research note on Monday, January 23rd. TheStreet upgraded shares of IDEAYA Biosciences from a “d+” rating to a “c-” rating in a research note on Thursday, February 2nd. Wedbush boosted their price target on shares of IDEAYA Biosciences to $30.00 in a research note on Wednesday, December 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday, March 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $28.22.

IDEAYA Biosciences Price Performance

The stock’s 50 day moving average is $17.20 and its two-hundred day moving average is $16.13. The stock has a market capitalization of $725.32 million, a PE ratio of -10.78 and a beta of 0.89.

Institutional Trading of IDEAYA Biosciences

A number of large investors have recently made changes to their positions in IDYA. Point72 Hong Kong Ltd increased its stake in shares of IDEAYA Biosciences by 363.7% during the first quarter. Point72 Hong Kong Ltd now owns 3,376 shares of the company’s stock worth $38,000 after buying an additional 2,648 shares during the period. Quantbot Technologies LP increased its stake in shares of IDEAYA Biosciences by 90.5% during the first quarter. Quantbot Technologies LP now owns 4,000 shares of the company’s stock worth $44,000 after buying an additional 1,900 shares during the period. Point72 Asset Management L.P. purchased a new position in IDEAYA Biosciences in the fourth quarter valued at approximately $49,000. Metropolitan Life Insurance Co NY increased its stake in IDEAYA Biosciences by 39.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,743 shares of the company’s stock valued at $50,000 after purchasing an additional 774 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in IDEAYA Biosciences in the fourth quarter valued at approximately $63,000. 94.20% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

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IDEAYA Biosciences, Inc engages in the research and development of oncology-focused precision medicine. The firm focuses on the targeted therapeutics for patients selected using molecular diagnostics. Its product candidate, IDE196, is a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.