IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 52-Week High at $30.33

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $30.33 and last traded at $29.43, with a volume of 239956 shares trading hands. The stock had previously closed at $29.67.

Analyst Ratings Changes

IDYA has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their price target on shares of IDEAYA Biosciences from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, October 24th. SVB Leerink initiated coverage on shares of IDEAYA Biosciences in a research note on Tuesday, August 8th. They issued an “outperform” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of IDEAYA Biosciences from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. Leerink Partnrs reissued an “outperform” rating on shares of IDEAYA Biosciences in a research note on Tuesday, August 8th. Finally, The Goldman Sachs Group lifted their target price on shares of IDEAYA Biosciences from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, September 12th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.38.

IDEAYA Biosciences Trading Down 2.4 %

The stock has a market capitalization of $1.67 billion, a PE ratio of -19.97 and a beta of 0.78. The firm’s fifty day moving average is $27.50 and its 200-day moving average is $24.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.05. The firm had revenue of $3.50 million for the quarter, compared to analyst estimates of $4.89 million. IDEAYA Biosciences had a negative net margin of 164.25% and a negative return on equity of 19.09%. The firm’s revenue for the quarter was down 55.7% on a year-over-year basis. As a group, equities analysts predict that IDEAYA Biosciences, Inc. will post -2.01 EPS for the current year.

Insider Activity at IDEAYA Biosciences

In related news, CFO Paul A. Stone sold 978 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $26.40, for a total value of $25,819.20. Following the sale, the chief financial officer now directly owns 14,303 shares in the company, valued at approximately $377,599.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other IDEAYA Biosciences news, CFO Paul A. Stone sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $25.05, for a total transaction of $62,625.00. Following the sale, the chief financial officer now directly owns 19,303 shares in the company, valued at $483,540.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul A. Stone sold 978 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $26.40, for a total transaction of $25,819.20. Following the sale, the chief financial officer now owns 14,303 shares in the company, valued at $377,599.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,337 shares of company stock worth $609,580. Company insiders own 5.10% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of IDYA. Point72 Hong Kong Ltd increased its stake in 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 purchasing an additional 2,648 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of IDEAYA Biosciences by 66.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,847 shares of the company’s stock worth $39,000 after buying an additional 1,136 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of IDEAYA Biosciences by 96.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,474 shares of the company’s stock worth $40,000 after buying an additional 723 shares in the last quarter. Quantbot Technologies LP grew its position 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 in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of IDEAYA Biosciences during the fourth quarter worth about $49,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

About IDEAYA Biosciences

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 II clinical trial for patients with solid tumors having methylthioadenosine phosphorylase gene 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.