IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 12-Month Low - Here's Why

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $19.96 and last traded at $20.28, with a volume of 110758 shares. The stock had previously closed at $20.24.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Leerink Partners cut IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $41.00 to $27.00 in a research report on Tuesday, November 5th. Stephens reiterated an "overweight" rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a research note on Friday, February 14th. 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. Cantor Fitzgerald reiterated an "overweight" rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Two 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 stock. According to MarketBeat, IDEAYA Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $53.58.

IDEAYA Biosciences Trading Down 1.2 %

The firm's fifty day moving average price is $23.17 and its two-hundred day moving average price is $28.45. The stock has a market capitalization of $1.65 billion, a PE ratio of -5.72 and a beta of 0.82.

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IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $7.00 million. As a group, sell-side 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 bought and sold shares of the business. Covestor Ltd increased its position in shares of IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $29,000 after buying an additional 922 shares in the last quarter. R Squared Ltd acquired a new stake in IDEAYA Biosciences in the 4th quarter valued at $35,000. GF Fund Management CO. LTD. acquired a new stake in IDEAYA Biosciences in the 4th quarter valued at $47,000. US Bancorp DE increased its holdings in IDEAYA Biosciences by 67.2% in the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company's stock worth $54,000 after acquiring an additional 689 shares in the last quarter. Finally, KBC Group NV raised its position in IDEAYA Biosciences by 29.1% during the third quarter. KBC Group NV now owns 2,274 shares of the company's stock worth $72,000 after acquiring an additional 513 shares during the period. 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.