IDEAYA Biosciences (NASDAQ:IDYA) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note published on Tuesday morning,Benzinga reports. They currently have a $52.00 price objective on the stock.

Several other research firms have also recently weighed in on IDYA. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Wednesday, February 18th. Wall Street Zen lowered shares of IDEAYA Biosciences from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. UBS Group started coverage on shares of IDEAYA Biosciences in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $49.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Fifteen equities research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.69.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA opened at $33.32 on Tuesday. IDEAYA Biosciences has a 12 month low of $13.45 and a 12 month high of $39.28. The firm has a market capitalization of $2.93 billion, a PE ratio of -25.44 and a beta of 0.09. The business’s fifty day moving average price is $32.87 and its 200 day moving average price is $32.18.

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

Insider Activity at IDEAYA Biosciences

In other IDEAYA Biosciences news, Director Jeffrey Stein bought 50,000 shares of the business’s stock in a transaction dated 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 acquisition, the director directly owned 54,281 shares of the company’s stock, valued at $1,789,101.76. The trade was a 1,167.95% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IDYA. Rockefeller Capital Management L.P. raised its holdings in shares of IDEAYA Biosciences by 1,071.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,795 shares of the company’s stock valued at $131,000 after buying an additional 3,471 shares during the last quarter. Flax Pond Capital LLC purchased a new position in shares of IDEAYA Biosciences during the fourth quarter worth about $1,353,000. Invesco Ltd. grew its holdings in shares of IDEAYA Biosciences by 91.9% during the fourth quarter. Invesco Ltd. now owns 238,314 shares of the company’s stock worth $8,239,000 after buying an additional 114,118 shares during the last quarter. XTX Topco Ltd acquired a new position in IDEAYA Biosciences in the 4th quarter valued at about $2,288,000. Finally, Virtus Investment Advisers LLC increased its position in IDEAYA Biosciences by 53.1% in the 4th quarter. Virtus Investment Advisers LLC now owns 7,819 shares of the company’s stock valued at $270,000 after acquiring an additional 2,712 shares during the period. 98.29% of the stock is 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.