IDEAYA Biosciences (NASDAQ:IDYA) Hits New 52-Week Low - Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $13.80 and last traded at $14.00, with a volume of 61383 shares trading hands. The stock had previously closed at $14.71.

Analyst Ratings Changes

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

IDEAYA Biosciences Trading Up 6.2 %

The stock's 50 day moving average price is $18.86 and its two-hundred day moving average price is $24.30. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -5.08 and a beta of 0.51.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate 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. On average, sell-side analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in IDEAYA Biosciences in the fourth quarter valued at $35,000. GF Fund Management CO. LTD. purchased a new stake in shares of IDEAYA Biosciences in the 4th quarter worth about $47,000. Daiwa Securities Group Inc. grew its stake in IDEAYA Biosciences by 44.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company's stock valued at $72,000 after acquiring an additional 853 shares during the last quarter. KBC Group NV increased its holdings in IDEAYA Biosciences by 84.6% during the 4th quarter. KBC Group NV now owns 4,197 shares of the company's stock valued at $108,000 after acquiring an additional 1,923 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in IDEAYA Biosciences during the fourth quarter worth about $203,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.