IDEAYA Biosciences (NASDAQ:IDYA) Stock Gets Price Target Trim from Royal Bank Of Canada

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective trimmed by Royal Bank Of Canada from $48.00 to $45.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on IDYA. Stifel Nicolaus initiated coverage on IDEAYA Biosciences in a research report on Wednesday, October 14th. They set a “buy” rating and a $48.00 price objective for the company. William Blair began coverage on IDEAYA Biosciences in a report on Friday, October 16th. They issued an “outperform” rating on the stock. Guggenheim dropped their price target on IDEAYA Biosciences from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday. Mizuho set a $44.00 price target on IDEAYA Biosciences in a report on Thursday, October 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Thursday, October 15th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA traded up $0.59 during midday trading on Wednesday, reaching $31.24. The stock had a trading volume of 1,652,526 shares, compared to its average volume of 883,716. The stock has a market capitalization of $2.74 billion, a P/E ratio of -6.96 and a beta of 0.08. IDEAYA Biosciences has a 1-year low of $26.81 and a 1-year high of $42.68. The firm’s fifty day simple moving average is $36.28 and its 200-day simple moving average is $33.98.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, November 3rd. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.04). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The firm had revenue of $10.24 million for the quarter, compared to analyst estimates of $7.58 million. During the same period in the prior year, the firm earned $1.33 EPS. The firm’s revenue was up 14.6% on a year-over-year basis. On average, equities research analysts anticipate that IDEAYA Biosciences will post -4.62 earnings per share for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In other news, CEO Yujiro Hata sold 26,338 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $37.41, for a total transaction of $985,304.58. Following the completion of the transaction, the chief executive officer owned 690,695 shares of the company’s stock, valued at approximately $25,838,899.95. This represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On IDEAYA Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in IDEAYA Biosciences in the 2nd quarter valued at approximately $331,452,000. Jupiter Topco LLC acquired a new stake in shares of IDEAYA Biosciences during the 2nd quarter worth approximately $319,728,000. Janus Henderson Group PLC grew its holdings in shares of IDEAYA Biosciences by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company’s stock worth $242,023,000 after purchasing an additional 78,797 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of IDEAYA Biosciences by 42.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,333,478 shares of the company’s stock worth $44,418,000 after purchasing an additional 394,621 shares in the last quarter. Finally, Candriam S.C.A. increased its position in shares of IDEAYA Biosciences by 1.7% during the third quarter. Candriam S.C.A. now owns 1,110,424 shares of the company’s stock valued at $42,818,000 after purchasing an additional 18,123 shares during the period. 98.29% of the stock is currently owned by institutional investors.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.