IDEAYA Biosciences (NASDAQ:IDYA) Trading Down 7.8% – Should You Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares traded down 7.8% on Tuesday . The stock traded as low as $15.34 and last traded at $15.10. 321,759 shares traded hands during trading, a decline of 63% from the average session volume of 861,164 shares. The stock had previously closed at $16.38.

Wall Street Analysts Forecast Growth

IDYA has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Wedbush restated an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $53.58.

IDEAYA Biosciences Stock Performance

The stock has a market capitalization of $1.43 billion, a P/E ratio of -4.95 and a beta of 0.76. The firm has a 50-day moving average price of $20.38 and a 200 day moving average price of $25.41.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The business had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million. On average, equities analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in IDEAYA Biosciences by 0.5% during the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company’s stock valued at $2,919,000 after buying an additional 585 shares during the period. Daiwa Securities Group Inc. increased its stake in IDEAYA Biosciences by 44.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock worth $72,000 after purchasing an additional 853 shares during the period. Mariner LLC lifted its position in IDEAYA Biosciences by 9.8% in the fourth quarter. Mariner LLC now owns 9,775 shares of the company’s stock valued at $251,000 after purchasing an additional 869 shares during the last quarter. Assetmark Inc. boosted its stake in shares of IDEAYA Biosciences by 2.5% during the fourth quarter. Assetmark Inc. now owns 45,269 shares of the company’s stock valued at $1,163,000 after purchasing an additional 1,084 shares during the period. Finally, R Squared Ltd bought a new position in shares of IDEAYA Biosciences in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.