IDEAYA Biosciences (NASDAQ:IDYA) Trading Up 4.7% – Time to Buy?

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) traded up 4.7% during mid-day trading on Wednesday . The company traded as high as $15.11 and last traded at $15.47. 67,310 shares were traded during mid-day trading, a decline of 92% from the average session volume of 868,289 shares. The stock had previously closed at $14.77.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Wedbush reiterated an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Trading Up 7.9 %

The company has a market cap of $1.39 billion, a P/E ratio of -4.83 and a beta of 0.76. The company’s fifty day moving average is $20.52 and its 200 day moving average is $25.47.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.00 million. Analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. purchased a new stake in shares of IDEAYA Biosciences during the third quarter valued at approximately $42,681,000. Janus Henderson Group PLC raised its holdings in IDEAYA Biosciences by 26.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock valued at $163,518,000 after buying an additional 1,086,356 shares during the last quarter. Norges Bank purchased a new stake in IDEAYA Biosciences during the 4th quarter valued at $13,385,000. State Street Corp grew its holdings in IDEAYA Biosciences by 15.4% in the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after acquiring an additional 443,640 shares during the last quarter. Finally, MPM Bioimpact LLC purchased a new position in shares of IDEAYA Biosciences in the fourth quarter valued at about $10,641,000. 98.29% of the stock is currently owned by 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.