IDEAYA Biosciences (NASDAQ:IDYA) Sets New 52-Week Low - Here's What Happened

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $18.06 and last traded at $18.17, with a volume of 28397 shares traded. The stock had previously closed at $18.46.

Analysts Set New Price Targets

IDYA has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Wedbush reissued an "outperform" rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Finally, Stephens reaffirmed an "overweight" rating and set a $50.00 price target on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.58.

IDEAYA Biosciences Price Performance

The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -5.75 and a beta of 0.76. The company's 50-day simple moving average is $22.22 and its 200-day simple moving average is $27.53.

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IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The company had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.00 million. Research analysts expect that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in shares of IDEAYA Biosciences during the 4th quarter worth approximately $47,000. Neo Ivy Capital Management acquired a new position in IDEAYA Biosciences during the 4th quarter worth approximately $3,361,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in IDEAYA Biosciences by 1.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 323,286 shares of the company's stock valued at $8,308,000 after purchasing an additional 4,790 shares during the last quarter. Voloridge Investment Management LLC boosted its position in IDEAYA Biosciences by 50.7% in the fourth quarter. Voloridge Investment Management LLC now owns 286,759 shares of the company's stock valued at $7,370,000 after buying an additional 96,466 shares in the last quarter. Finally, Woodline Partners LP grew its stake in shares of IDEAYA Biosciences by 0.3% during the fourth quarter. Woodline Partners LP now owns 590,697 shares of the company's stock worth $15,181,000 after buying an additional 1,943 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.