IDEAYA Biosciences (NASDAQ:IDYA) Hits New 12-Month High – Here’s Why

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) reached a new 52-week high during trading on Tuesday . The company traded as high as $41.47 and last traded at $41.1150, with a volume of 80699 shares changing hands. The stock had previously closed at $40.04.

Analyst Upgrades and Downgrades

IDYA has been the topic of several analyst reports. Truist Financial dropped their target price on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Wall Street Zen lowered shares of IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Wedbush lifted their price objective on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Mizuho cut their target price on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.12.

IDEAYA Biosciences Stock Up 4.5%

The company has a market cap of $3.68 billion, a price-to-earnings ratio of -21.62 and a beta of -0.10. The business has a 50-day simple moving average of $36.33 and a two-hundred day simple moving average of $32.92.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The company had revenue of $8.86 million during the quarter, compared to analyst estimates of $8.02 million. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.The firm’s revenue for the quarter was up 8800.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.88) earnings per share. As a group, equities analysts anticipate that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the sale, the chief accounting officer directly owned 26,466 shares in the company, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IDYA. ANTIPODES PARTNERS Ltd boosted its position in shares of IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after acquiring an additional 380 shares during the period. Daiwa Securities Group Inc. increased its position in IDEAYA Biosciences by 16.1% during the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after acquiring an additional 436 shares during the period. Russell Investments Group Ltd. increased its position in IDEAYA Biosciences by 5.2% during the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock worth $335,000 after acquiring an additional 476 shares during the period. Farther Finance Advisors LLC raised its stake in 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. Finally, Versant Capital Management Inc raised its stake in IDEAYA Biosciences by 26.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock valued at $105,000 after purchasing an additional 596 shares during the last quarter. Institutional investors own 98.29% of the company’s stock.

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.