IDEAYA Biosciences’ (NASDAQ:IDYA) quiet period is set to end on Tuesday, July 2nd. IDEAYA Biosciences had issued 5,000,000 shares in its IPO on May 23rd. The total size of the offering was $50,000,000 based on an initial share price of $10.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several research analysts have commented on IDYA shares. JPMorgan Chase & Co. started coverage on shares of IDEAYA Biosciences in a research report on Monday, June 17th. They issued a “neutral” rating and a $15.00 target price for the company. Jefferies Financial Group started coverage on shares of IDEAYA Biosciences in a research report on Monday, June 17th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Citigroup started coverage on shares of IDEAYA Biosciences in a research report on Monday, June 17th. They issued a “buy” rating and a $20.00 target price for the company.
NASDAQ IDYA opened at $9.96 on Friday. IDEAYA Biosciences has a 52 week low of $9.03 and a 52 week high of $16.90.
In other news, major shareholder Alexandria Venture Investments bought 50,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $500,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
About IDEAYA Biosciences
IDEAYA Biosciences, Inc, an oncology-focused precision medicine company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's product candidate in clinical development is IDE196, a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.
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