IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Down – Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $31.48, but opened at $30.34. IDEAYA Biosciences shares last traded at $30.4220, with a volume of 1,085,447 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IDYA shares. Wells Fargo & Company lifted their price target on IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. The Goldman Sachs Group increased their target price on shares of IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Wedbush reiterated an “outperform” rating and issued a $58.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. Guggenheim increased their target price on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Tuesday, April 21st. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $50.69.

IDEAYA Biosciences Price Performance

The stock has a market cap of $2.51 billion, a P/E ratio of -17.80 and a beta of -0.04. The company has a fifty day moving average of $30.18 and a 200 day moving average of $32.62.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The business had revenue of $6.56 million during the quarter, compared to the consensus estimate of $5.04 million. The business’s quarterly revenue was down 39.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.82) earnings per share. As a group, analysts anticipate that IDEAYA Biosciences, Inc. will post -4.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IDYA. Iron Triangle Partners LP acquired a new stake in IDEAYA Biosciences during the 3rd quarter valued at $7,347,000. Envestnet Asset Management Inc. raised its stake in IDEAYA Biosciences by 174.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 299,032 shares of the company’s stock valued at $8,137,000 after purchasing an additional 189,877 shares during the period. Candriam S.C.A. raised its stake in IDEAYA Biosciences by 10.8% during the 3rd quarter. Candriam S.C.A. now owns 1,012,967 shares of the company’s stock valued at $27,563,000 after purchasing an additional 98,567 shares during the period. Cinctive Capital Management LP raised its stake in IDEAYA Biosciences by 193.9% during the 3rd quarter. Cinctive Capital Management LP now owns 49,946 shares of the company’s stock valued at $1,359,000 after purchasing an additional 32,953 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in IDEAYA Biosciences during the 3rd quarter valued at $1,023,000. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.