IDEAYA Biosciences (NASDAQ:IDYA) Trading 3.7% Higher on Analyst Upgrade

IDEAYA Biosciences, Inc. (NASDAQ:IDYAGet Free Report) shares traded up 3.7% on Tuesday after BTIG Research raised their price target on the stock from $55.00 to $62.00. BTIG Research currently has a buy rating on the stock. IDEAYA Biosciences traded as high as $41.28 and last traded at $40.99. 275,878 shares changed hands during trading, a decline of 69% from the average session volume of 888,192 shares. The stock had previously closed at $39.51.

Several other research analysts also recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $63.00 price objective on shares of IDEAYA Biosciences in a report on Monday. Oppenheimer increased their target price on shares of IDEAYA Biosciences from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Monday. 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 report on Thursday, March 21st. Mizuho began coverage on shares of IDEAYA Biosciences in a report on Monday. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $56.00 target price (up previously from $52.00) on shares of IDEAYA Biosciences in a report on Monday. Fourteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $51.42.

Read Our Latest Analysis on IDEAYA Biosciences

Insider Buying and Selling

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the transaction, the chief executive officer now owns 677,887 shares in the company, valued at $28,206,878.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other IDEAYA Biosciences news, insider Michael Anthony White sold 28,500 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total transaction of $1,032,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the transaction, the chief executive officer now owns 677,887 shares of the company’s stock, valued at approximately $28,206,878.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,644 shares of company stock worth $4,832,228. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDYA. Walleye Capital LLC bought a new position in shares of IDEAYA Biosciences in the third quarter valued at approximately $2,265,000. Hudson Bay Capital Management LP bought a new position in shares of IDEAYA Biosciences in the third quarter valued at approximately $944,000. Vanguard Group Inc. boosted its position in shares of IDEAYA Biosciences by 5.0% in the third quarter. Vanguard Group Inc. now owns 2,971,497 shares of the company’s stock valued at $80,171,000 after acquiring an additional 141,844 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of IDEAYA Biosciences by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,806 shares of the company’s stock valued at $171,000 after acquiring an additional 1,219 shares during the period. Finally, Legato Capital Management LLC bought a new position in shares of IDEAYA Biosciences in the fourth quarter valued at approximately $445,000. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Down 3.4 %

The business’s 50-day moving average price is $38.37 and its 200 day moving average price is $40.71. The company has a market capitalization of $2.82 billion, a P/E ratio of -18.57 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. The firm’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.49) earnings per share. Analysts anticipate that IDEAYA Biosciences, Inc. will post -2.37 EPS for the current fiscal year.

IDEAYA Biosciences Company Profile

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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.

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