IDEAYA Biosciences (NASDAQ:IDYA) Announces Earnings Results

IDEAYA Biosciences (NASDAQ:IDYA) posted its quarterly earnings results on Tuesday. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.02), Briefing.com reports. IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 23.00%. The firm’s revenue was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.49) earnings per share.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA traded down $1.58 during trading hours on Wednesday, hitting $41.17. The stock had a trading volume of 66,047 shares, compared to its average volume of 829,037. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -20.95 and a beta of 0.83. IDEAYA Biosciences has a one year low of $19.01 and a one year high of $47.74. The company has a 50 day simple moving average of $42.63 and a two-hundred day simple moving average of $38.38.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 23,557 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $45.54, for a total value of $1,072,785.78. Following the transaction, the chief executive officer now 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 is available through this link. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of IDEAYA Biosciences stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at $30,870,973.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Briseno Andres Ruiz sold 2,000 shares of IDEAYA Biosciences stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $46.02, for a total value of $92,040.00. Following the completion of the transaction, the insider now owns 24,531 shares in the company, valued at approximately $1,128,916.62. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

IDYA has been the topic of a number of research reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of IDEAYA Biosciences in a research note 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 price objective on the stock. Royal Bank of Canada increased their price target on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. Citigroup increased their target price on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. increased their price objective on IDEAYA Biosciences from $51.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $47.50.

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.