IDEAYA Biosciences (NASDAQ:IDYA) Hits New 1-Year Low - Here's Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s stock price reached a new 52-week low on Friday . The company traded as low as $22.14 and last traded at $22.15, with a volume of 301770 shares changing hands. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

IDYA has been the topic of a number of recent analyst reports. Wedbush reissued 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 set a $61.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday. Oppenheimer reaffirmed an "outperform" rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Stephens began coverage on shares of IDEAYA Biosciences in a research report on Monday, November 18th. They issued an "overweight" rating and a $51.00 target price on the stock. Finally, Leerink Partnrs lowered shares of IDEAYA Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Two research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.67.

IDEAYA Biosciences Price Performance

The company's 50-day simple moving average is $26.32 and its 200-day simple moving average is $32.34. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -9.52 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same quarter in the previous year, the company posted ($0.46) EPS. Equities analysts predict that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Allworth Financial LP increased its holdings in IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company's stock worth $29,000 after purchasing an additional 800 shares during the last quarter. Covestor Ltd increased its stake in shares of IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company's stock worth $29,000 after buying an additional 922 shares during the last quarter. Quest Partners LLC acquired a new stake in IDEAYA Biosciences in the second quarter valued at $41,000. US Bancorp DE raised its holdings in IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company's stock valued at $54,000 after acquiring an additional 689 shares in the last quarter. Finally, KBC Group NV boosted its stake in IDEAYA Biosciences by 29.1% during the 3rd quarter. KBC Group NV now owns 2,274 shares of the company's stock valued at $72,000 after acquiring an additional 513 shares during the last quarter. Institutional investors and hedge funds 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.

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