Stock Traders Purchase High Volume of IDEAYA Biosciences Put Options (NASDAQ:IDYA)

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the recipient of unusually large options trading activity on Monday. Investors purchased 9,704 put options on the company. This is an increase of 1,197% compared to the typical volume of 748 put options.

Insider Activity

In other IDEAYA Biosciences news, Director Jeffrey Stein purchased 50,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were acquired at an average cost of $32.96 per share, with a total value of $1,648,000.00. Following the completion of the acquisition, the director directly owned 54,281 shares in the company, valued at $1,789,101.76. The trade was a 1,167.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of large investors have recently bought and sold shares of IDYA. Farther Finance Advisors LLC increased its stake in IDEAYA Biosciences by 171.1% in the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after purchasing an additional 580 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of IDEAYA Biosciences during the third quarter valued at $38,000. ANTIPODES PARTNERS Ltd boosted its stake in shares of IDEAYA Biosciences by 49.4% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after purchasing an additional 380 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of IDEAYA Biosciences in the third quarter worth about $58,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of IDEAYA Biosciences in the second quarter worth about $61,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IDYA shares. Truist Financial lifted their target price on IDEAYA Biosciences from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Thursday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. UBS Group assumed coverage on shares of IDEAYA Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $49.00 target price on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.69.

IDEAYA Biosciences Stock Down 3.4%

IDYA stock opened at $31.64 on Tuesday. IDEAYA Biosciences has a 52 week low of $13.45 and a 52 week high of $39.28. The company has a fifty day simple moving average of $33.39 and a two-hundred day simple moving average of $31.90. The firm has a market capitalization of $2.78 billion, a P/E ratio of -24.15 and a beta of 0.09.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.09. The firm had revenue of $21.75 million for the quarter, compared to analysts’ expectations of $5.95 million. During the same period in the prior year, the firm posted ($1.49) earnings per share. IDEAYA Biosciences’s revenue for the quarter was up 55.7% on a year-over-year basis. As a group, analysts anticipate that IDEAYA Biosciences will post -3.07 EPS for the current year.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.