Short Interest in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Declines By 11.2%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 8,930,000 shares, a drop 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 short-interest ratio is currently 10.0 days.

Analyst Ratings Changes

Several equities analysts recently issued reports on IDYA shares. Leerink Partners cut IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Citigroup lowered their price objective on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Leerink Partnrs downgraded shares of IDEAYA Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a report on Tuesday. Finally, Oppenheimer reissued an "outperform" rating and set a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, IDEAYA Biosciences currently has an average rating of "Moderate Buy" and an average target price of $53.67.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company's stock worth $29,000 after purchasing an additional 800 shares during the period. Covestor Ltd raised its position in shares of IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company's stock worth $29,000 after purchasing an additional 922 shares during the period. Quest Partners LLC bought a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth approximately $41,000. US Bancorp DE boosted its position in IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company's stock valued at $54,000 after purchasing an additional 689 shares during the period. Finally, Comerica Bank grew its stake in IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company's stock worth $66,000 after buying an additional 1,324 shares during the last quarter. Institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Trading Up 1.1 %

NASDAQ:IDYA traded up $0.28 during mid-day trading on Tuesday, hitting $26.33. The company had a trading volume of 904,661 shares, compared to its average volume of 864,259. The business has a fifty day simple moving average of $28.66 and a 200-day simple moving average of $34.30. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -11.18 and a beta of 0.79. IDEAYA Biosciences has a 1 year low of $24.72 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly 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 period last year, the business earned ($0.46) EPS. As a group, research analysts anticipate that IDEAYA Biosciences will post -2.45 earnings per share for the current year.

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.