IDEAYA Biosciences (NASDAQ:IDYA) Sets New 12-Month Low - Here's What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $20.39 and last traded at $20.44, with a volume of 1046777 shares traded. The stock had previously closed at $21.00.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IDYA. Wedbush reaffirmed an "outperform" rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Leerink Partners downgraded shares of IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Finally, UBS Group started coverage on shares of IDEAYA Biosciences in a research note on Thursday, October 24th. They set a "buy" rating and a $50.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.58.

IDEAYA Biosciences Stock Up 0.1 %

The stock has a market cap of $1.90 billion, a P/E ratio of -6.59 and a beta of 0.82. The firm's fifty day moving average price is $23.86 and its 200-day moving average price is $29.38.

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

Institutional Trading of IDEAYA Biosciences

Several large investors have recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in IDEAYA Biosciences by 29.1% in the third quarter. KBC Group NV now owns 2,274 shares of the company's stock valued at $72,000 after acquiring an additional 513 shares in the last quarter. Amalgamated Bank boosted its holdings in IDEAYA Biosciences by 22.9% in the third quarter. Amalgamated Bank now owns 2,840 shares of the company's stock valued at $90,000 after acquiring an additional 530 shares in the last quarter. Rhumbline Advisers boosted its holdings in IDEAYA Biosciences by 0.5% in the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company's stock valued at $2,919,000 after acquiring an additional 585 shares in the last quarter. US Bancorp DE boosted its holdings in IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company's stock valued at $54,000 after acquiring an additional 689 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in IDEAYA Biosciences by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company's stock valued at $94,000 after acquiring an additional 796 shares in the last quarter. Institutional investors own 98.29% of the company's stock.

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.