IDEAYA Biosciences (NASDAQ:IDYA) Trading 9.5% Higher – Still a Buy?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price was up 9.5% on Monday . The company traded as high as $31.33 and last traded at $30.99. Approximately 675,647 shares traded hands during trading, a decline of 35% from the average daily volume of 1,042,103 shares. The stock had previously closed at $28.29.

Analyst Ratings Changes

IDYA has been the subject of a number of analyst reports. Wall Street Zen lowered IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Mizuho lowered their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Tuesday, April 21st. Guggenheim increased their price target on IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Finally, The Goldman Sachs Group increased their price target on IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.69.

IDEAYA Biosciences Trading Up 10.9%

The firm has a market capitalization of $2.76 billion, a PE ratio of -19.73 and a beta of -0.05. The business has a 50-day moving average of $30.19 and a 200 day moving average of $32.64.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The company had revenue of $6.56 million during the quarter, compared to analyst estimates of $5.04 million. During the same period in the prior year, the firm earned ($0.82) earnings per share. The company’s revenue was down 39.4% compared to the same quarter last year. On average, sell-side analysts expect that IDEAYA Biosciences, Inc. will post -4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in shares of IDEAYA Biosciences by 171.1% during the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after purchasing an additional 580 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its position in shares of IDEAYA Biosciences by 49.4% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after purchasing an additional 380 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of IDEAYA Biosciences during the 3rd quarter valued at $38,000. Global Retirement Partners LLC purchased a new stake in shares of IDEAYA Biosciences during the 4th quarter valued at $61,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of IDEAYA Biosciences during the 3rd quarter valued at $58,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.