IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 1-Year Low – What’s Next?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $28.00 and last traded at $28.49, with a volume of 34140 shares. The stock had previously closed at $28.15.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IDYA shares. Wedbush lowered their target price on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a research report on Monday, July 29th. BTIG Research raised their price target on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. UBS Group started coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They set a “buy” rating and a $50.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $55.45.

IDEAYA Biosciences Stock Performance

The stock has a 50 day simple moving average of $33.15 and a 200-day simple moving average of $36.97.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.14). During the same period in the prior year, the firm posted ($0.50) EPS. As a group, equities research analysts forecast that IDEAYA Biosciences, Inc. will post -2.47 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its position in shares of 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 buying an additional 332 shares during the last quarter. Amalgamated Bank lifted its stake in IDEAYA Biosciences by 22.9% in the third quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock worth $90,000 after purchasing an additional 530 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in IDEAYA Biosciences by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 15,275 shares of the company’s stock valued at $670,000 after acquiring an additional 648 shares during the period. US Bancorp DE boosted its stake in shares of IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after purchasing an additional 689 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in IDEAYA Biosciences by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock worth $94,000 after acquiring an additional 796 shares in the last quarter. 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.