IDEAYA Biosciences (NASDAQ:IDYA) Trading Down 3.2%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares fell 3.2% during mid-day trading on Thursday . The stock traded as low as $38.88 and last traded at $38.90. 88,103 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 847,028 shares. The stock had previously closed at $40.17.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IDYA. Citigroup lifted their price target on IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Royal Bank of Canada boosted their target price on IDEAYA Biosciences from $43.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their target price on IDEAYA Biosciences from $51.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. BTIG Research assumed coverage on IDEAYA Biosciences in a research report on Friday, March 8th. They issued a “buy” rating and a $55.00 target price for the company. Finally, Leerink Partnrs reissued an “outperform” rating on shares of IDEAYA Biosciences in a research report on Friday, February 23rd. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $44.55.

IDEAYA Biosciences Stock Performance

The stock has a market cap of $2.83 billion, a PE ratio of -19.65 and a beta of 0.80. The company’s 50-day moving average price is $44.19 and its 200 day moving average price is $36.93.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). The company had revenue of $3.90 million for the quarter, compared to the consensus estimate of $8.84 million. IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 23.00%. The company’s revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that IDEAYA Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $45.54, for a total value of $1,072,785.78. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $30,870,973.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Yujiro S. Hata sold 23,557 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the sale, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $30,870,973.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Briseno Andres Ruiz sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $46.02, for a total value of $92,040.00. Following the sale, the insider now directly owns 24,531 shares in the company, valued at $1,128,916.62. The disclosure for this sale can be found here. Insiders sold 27,557 shares of company stock worth $1,248,886 in the last three months. 5.10% of the stock is owned by company insiders.

Institutional Trading of IDEAYA Biosciences

Several hedge funds have recently modified their holdings of IDYA. Swiss National Bank raised its holdings in shares of IDEAYA Biosciences by 7.8% during the 1st quarter. Swiss National Bank now owns 63,800 shares of the company’s stock worth $714,000 after acquiring an additional 4,600 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in IDEAYA Biosciences by 23.9% during the 1st quarter. JPMorgan Chase & Co. now owns 20,058 shares of the company’s stock valued at $224,000 after buying an additional 3,870 shares during the period. MetLife Investment Management LLC raised its holdings in IDEAYA Biosciences by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 17,271 shares of the company’s stock valued at $193,000 after buying an additional 6,374 shares during the period. Rhumbline Advisers raised its holdings in IDEAYA Biosciences by 4.8% during the 1st quarter. Rhumbline Advisers now owns 39,982 shares of the company’s stock valued at $447,000 after buying an additional 1,835 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in IDEAYA Biosciences by 56.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 425,183 shares of the company’s stock valued at $4,758,000 after buying an additional 153,022 shares during the period. 98.29% of the stock is owned by hedge funds and other institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.