IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Sees Significant Decline in Short Interest

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 8,930,000 shares, a decrease of 11.2% from the November 15th total of 10,060,000 shares. Currently, 11.6% of the shares of the company are short sold. Based on an average daily volume of 890,000 shares, the days-to-cover ratio is presently 10.0 days.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ IDYA traded up $0.45 during mid-day trading on Tuesday, reaching $26.50. The company had a trading volume of 252,703 shares, compared to its average volume of 861,506. The stock’s 50 day moving average is $28.66 and its 200-day moving average is $34.30. IDEAYA Biosciences has a twelve month low of $24.72 and a twelve month high of $47.74. The stock has a market capitalization of $2.29 billion, a PE ratio of -11.18 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same quarter in the prior year, the company earned ($0.46) earnings per share. On average, sell-side analysts anticipate that IDEAYA Biosciences will post -2.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Comerica Bank boosted its stake in shares of IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after purchasing an additional 1,324 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of IDEAYA Biosciences by 411.3% in the second quarter. SG Americas Securities LLC now owns 11,775 shares of the company’s stock valued at $413,000 after buying an additional 9,472 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of IDEAYA Biosciences by 38.4% in the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock valued at $117,000 after buying an additional 927 shares during the last quarter. Bank of New York Mellon Corp lifted its position in IDEAYA Biosciences by 43.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 316,492 shares of the company’s stock worth $11,112,000 after buying an additional 95,129 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in IDEAYA Biosciences by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 105,797 shares of the company’s stock worth $3,715,000 after acquiring an additional 9,387 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

IDYA has been the topic of a number of recent research reports. UBS Group started coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Leerink Partnrs downgraded shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Citigroup cut their target price on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Oppenheimer restated an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.