IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 1-Year Low - Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $21.76 and last traded at $21.94, with a volume of 34428 shares traded. The stock had previously closed at $22.42.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. UBS Group assumed coverage on shares of IDEAYA Biosciences in a research report on Thursday, October 24th. They set a "buy" rating and a $50.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Oppenheimer reissued an "outperform" rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Cantor Fitzgerald reissued an "overweight" rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.58.

IDEAYA Biosciences Price Performance

The company's 50 day moving average is $24.49 and its 200 day moving average is $30.11. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -9.15 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.86). Sell-side analysts predict that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

Institutional Trading of IDEAYA Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in IDYA. Creative Planning acquired a new stake in shares of IDEAYA Biosciences in the third quarter valued at about $275,000. Values First Advisors Inc. acquired a new position in IDEAYA Biosciences during the third quarter worth about $74,000. Allworth Financial LP raised its position in 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 acquiring an additional 800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in IDEAYA Biosciences by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company's stock worth $94,000 after acquiring an additional 796 shares during the last quarter. Finally, abrdn plc acquired a new position in IDEAYA Biosciences during the third quarter worth about $7,376,000. Institutional investors and hedge funds own 98.29% of the company's stock.

About IDEAYA Biosciences

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.