IDEAYA Biosciences (NASDAQ:IDYA) Lowered to Sell Rating by Wall Street Zen

IDEAYA Biosciences (NASDAQ:IDYA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “sell” rating in a research report issued on Saturday.

Several other brokerages have also recently issued reports on IDYA. Wedbush boosted their price objective on shares of IDEAYA Biosciences from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial lifted their price objective on IDEAYA Biosciences from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Thursday, January 22nd. Citigroup lifted their price objective on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $49.00 target price on shares of IDEAYA Biosciences in a report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.69.

IDEAYA Biosciences Stock Down 2.8%

NASDAQ IDYA opened at $31.98 on Friday. The firm has a market cap of $2.81 billion, a P/E ratio of -24.41 and a beta of 0.10. IDEAYA Biosciences has a 52-week low of $13.45 and a 52-week high of $39.28. The business’s 50-day moving average price is $34.19 and its 200 day moving average price is $30.51.

IDEAYA Biosciences (NASDAQ:IDYA) last posted 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 $21.75 million for the quarter, compared to analyst estimates of $5.95 million. During the same period in the previous year, the business posted ($1.49) earnings per share. The firm’s revenue was up 55.7% compared to the same quarter last year. As a group, analysts anticipate that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in IDEAYA Biosciences by 171.1% in the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after acquiring an additional 580 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of IDEAYA Biosciences during the third quarter worth $38,000. ANTIPODES PARTNERS Ltd boosted its stake in shares of 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 purchasing an additional 380 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in IDEAYA Biosciences during the 3rd quarter valued at $58,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in IDEAYA Biosciences during the 2nd quarter worth $61,000. Hedge funds and other institutional investors 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.