IDEAYA Biosciences Target of Unusually Large Options Trading (NASDAQ:IDYA)

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the target of unusually large options trading on Monday. Stock investors acquired 24,287 call options on the stock. This represents an increase of 2,391% compared to the typical volume of 975 call options.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $32.34 on Tuesday. The stock has a 50-day moving average of $32.64 and a two-hundred day moving average of $32.39. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $39.28. The stock has a market cap of $2.84 billion, a PE ratio of -24.69 and a beta of 0.02.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Thursday, January 22nd. Truist Financial upped their price objective on IDEAYA Biosciences from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Guggenheim restated a “buy” rating and set a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, February 18th. UBS Group assumed coverage on IDEAYA Biosciences in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Wall Street Zen cut IDEAYA Biosciences from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Fifteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.69.

Insider Buying and Selling at IDEAYA Biosciences

In other news, Director Jeffrey Stein bought 50,000 shares of the stock in a transaction on Monday, March 2nd. The stock was acquired at an average cost of $32.96 per share, for a total transaction of $1,648,000.00. Following the acquisition, the director owned 54,281 shares of the company’s stock, valued at $1,789,101.76. This represents a 1,167.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised 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 valued at $32,000 after buying an additional 580 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in IDEAYA Biosciences in the third quarter valued at about $38,000. ANTIPODES PARTNERS Ltd raised its stake in IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after buying an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in IDEAYA Biosciences in the third quarter valued at about $58,000. Finally, Global Retirement Partners LLC purchased a new stake in IDEAYA Biosciences in the fourth quarter valued at about $61,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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.