IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Up – Here’s What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $30.50, but opened at $34.92. IDEAYA Biosciences shares last traded at $36.4770, with a volume of 3,993,533 shares traded.

IDEAYA Biosciences News Roundup

Here are the key news stories impacting IDEAYA Biosciences this week:

• Positive Sentiment: Positive topline registrational data from the OptimUM-02 Phase 2/3 trial: darovasertib + crizotinib improved median PFS to 6.9 months vs. 3.1 months for control (HR 0.42; 95% CI: 0.30–0.59), meeting the primary endpoint — a result that supports regulatory and commercial upside in metastatic uveal melanoma. PR Newswire
• Positive Sentiment: Market reaction/press coverage pushed the stock sharply higher overnight and in early trading as outlets reported the trial success, creating momentum and heightened investor attention. Investing.com article
• Positive Sentiment: Several firms raised price targets and issued bullish ratings after the data — notable raises include Wedbush to $58 (Outperform), Wells Fargo to $48 (Overweight) and Guggenheim to $54 (Buy) — signaling significant analyst upside expectations. Benzinga The Fly
• Neutral Sentiment: Goldman Sachs raised its price target to $35 but kept a “Neutral” rating — a reminder that not all sell-side desks expect an immediate re-rating into the highest target bands. Benzinga
• Negative Sentiment: Analyst/media caveats and regulatory risk remain — some commentary notes that approval and commercialization are not automatic despite strong PFS, so development and labeling/regulatory paths still carry execution risk. Seeking Alpha
• Negative Sentiment: Profit‑taking and volatility after the sizable overnight rally are likely driving the intraday pullback despite the positive fundamentals — volume is elevated and short-term traders may be locking gains.

Analyst Upgrades and Downgrades

IDYA has been the subject of several research reports. Wedbush boosted their price target on IDEAYA Biosciences from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wall Street Zen cut IDEAYA Biosciences from a “buy” rating to a “sell” rating in a research report on Saturday, February 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Thursday, January 22nd. Royal Bank Of Canada boosted their price target on IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, UBS Group initiated coverage on IDEAYA Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target for the company. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.44.

IDEAYA Biosciences Price Performance

The stock has a 50 day simple moving average of $32.38 and a two-hundred day simple moving average of $32.62. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -24.69 and a beta of 0.02.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.09. The company had revenue of $10.88 million for the quarter, compared to analyst estimates of $5.95 million. The business’s quarterly revenue was up 55.7% on a year-over-year basis. During the same period last year, the firm posted ($1.49) EPS. As a group, research analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey Stein acquired 50,000 shares of the stock in a transaction on Monday, March 2nd. The shares were bought at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the completion of the purchase, the director owned 54,281 shares of the company’s stock, valued at approximately $1,789,101.76. This represents a 1,167.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDYA. Royal Bank of Canada boosted its stake in IDEAYA Biosciences by 30.1% during the first quarter. Royal Bank of Canada now owns 122,460 shares of the company’s stock worth $2,006,000 after buying an additional 28,322 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in IDEAYA Biosciences by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company’s stock worth $938,000 after buying an additional 4,308 shares during the last quarter. Millennium Management LLC boosted its stake in IDEAYA Biosciences by 345.2% during the first quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock worth $8,970,000 after buying an additional 424,625 shares during the last quarter. American Century Companies Inc. boosted its stake in IDEAYA Biosciences by 862.7% during the second quarter. American Century Companies Inc. now owns 114,644 shares of the company’s stock worth $2,410,000 after buying an additional 102,736 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of IDEAYA Biosciences in the 2nd quarter valued at $643,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.