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

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $16.93 and last traded at $17.03, with a volume of 82861 shares trading hands. The stock had previously closed at $17.43.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. 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. Wedbush reiterated an "outperform" rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Finally, Stephens reiterated an "overweight" rating and set a $50.00 price target on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.58.

IDEAYA Biosciences Stock Performance

The company's 50-day moving average price is $20.68 and its two-hundred day moving average price is $25.63. The stock has a market cap of $1.43 billion, a PE ratio of -4.96 and a beta of 0.76.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates 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. Equities research analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

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Institutional Trading of IDEAYA Biosciences

A number of hedge funds have recently bought and sold shares of IDYA. FMR LLC raised its stake in shares of IDEAYA Biosciences by 2.6% during the fourth quarter. FMR LLC now owns 12,963,151 shares of the company's stock worth $333,153,000 after acquiring an additional 327,498 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of IDEAYA Biosciences by 13.5% during the 4th quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company's stock valued at $150,606,000 after purchasing an additional 695,263 shares during the last quarter. Vanguard Group Inc. raised its position in IDEAYA Biosciences by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company's stock worth $130,507,000 after purchasing an additional 282,936 shares during the period. State Street Corp lifted its stake in IDEAYA Biosciences by 15.4% in the third quarter. State Street Corp now owns 3,317,936 shares of the company's stock worth $105,112,000 after purchasing an additional 443,640 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its stake in IDEAYA Biosciences by 5.5% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company's stock worth $70,315,000 after purchasing an additional 142,000 shares during the last quarter. Institutional investors 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.