IDEAYA Biosciences (NASDAQ:IDYA) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of IDEAYA Biosciences (NASDAQ:IDYA) from a hold rating to a sell rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Mizuho reduced their target price on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Citigroup reissued a “market outperform” rating on shares of IDEAYA Biosciences in a research note on Tuesday, June 2nd. Royal Bank Of Canada cut their price objective on IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Wedbush upped their price objective on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.12.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA opened at $36.54 on Friday. IDEAYA Biosciences has a 1 year low of $23.23 and a 1 year high of $40.58. The business’s fifty day moving average is $35.30 and its two-hundred day moving average is $32.71. The stock has a market capitalization of $3.21 billion, a P/E ratio of -18.84 and a beta of -0.10.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $8.02 million. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.The business’s revenue was up 8800.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.88) earnings per share. On average, research analysts forecast that IDEAYA Biosciences will post -4.38 earnings per share for the current year.

Insider Activity

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was 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 owned 26,466 shares of the company’s stock, valued at $1,058,904.66. This trade represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in IDEAYA Biosciences by 171.1% in the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after acquiring an additional 580 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in 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 acquiring an additional 380 shares in the last quarter. Quantbot Technologies LP purchased a new position in IDEAYA Biosciences during the 2nd quarter valued at about $43,000. Global Retirement Partners LLC acquired a new position in shares of IDEAYA Biosciences in the 4th quarter valued at about $61,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of IDEAYA Biosciences by 16.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after purchasing an additional 436 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.

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.