IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Up 4.7% – Should You Buy?

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) traded up 4.7% during mid-day trading on Wednesday . The stock traded as high as $15.11 and last traded at $15.47. 67,310 shares traded hands 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 Ratings Changes

IDYA has been the subject of a number of recent research reports. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Wedbush reiterated an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, IDEAYA Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.58.

IDEAYA Biosciences Price Performance

The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -4.72 and a beta of 0.51. The business’s 50-day moving average price is $20.23 and its two-hundred day moving average price is $25.34.

IDEAYA Biosciences (NASDAQ:IDYA) last released its 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 firm had revenue of $7.00 million during the quarter, compared to the consensus estimate of $7.00 million. As a group, research analysts predict that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in IDYA. Rhumbline Advisers raised its position in IDEAYA Biosciences by 0.5% during the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company’s stock valued at $2,919,000 after purchasing an additional 585 shares in the last quarter. Daiwa Securities Group Inc. grew its position in IDEAYA Biosciences by 44.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock valued at $72,000 after acquiring an additional 853 shares during the last quarter. Mariner LLC boosted its stake in shares of IDEAYA Biosciences by 9.8% in the 4th quarter. Mariner LLC now owns 9,775 shares of the company’s stock valued at $251,000 after purchasing an additional 869 shares in the last quarter. Assetmark Inc. grew its holdings in shares of IDEAYA Biosciences by 2.5% during the 4th quarter. Assetmark Inc. now owns 45,269 shares of the company’s stock valued at $1,163,000 after purchasing an additional 1,084 shares during the last quarter. Finally, R Squared Ltd acquired a new position in IDEAYA Biosciences during the 4th quarter worth approximately $35,000. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.