IDEAYA Biosciences (NASDAQ:IDYA) Hits New 1-Year Low - Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) shares reached a new 52-week low during trading on Friday . The company traded as low as $27.50 and last traded at $27.51, with a volume of 172637 shares changing hands. The stock had previously closed at $29.47.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IDYA. Citigroup cut their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Wedbush restated an "outperform" rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a report on Monday, November 4th. Oppenheimer reaffirmed an "outperform" rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Cantor Fitzgerald began coverage on shares of IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an "overweight" rating on the stock. Finally, Lifesci Capital upgraded shares of IDEAYA Biosciences to a "strong-buy" rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $53.91.

IDEAYA Biosciences Price Performance

The stock has a 50 day simple moving average of $31.42 and a 200-day simple moving average of $36.36. The firm has a market cap of $2.30 billion, a PE ratio of -11.43 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same period in the previous year, the business posted ($0.46) earnings per share. As a group, equities analysts predict that IDEAYA Biosciences, Inc. will post -2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently modified their holdings of the business. Allworth Financial LP boosted its holdings in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company's stock valued at $29,000 after acquiring an additional 800 shares during the last quarter. Covestor Ltd lifted its position in IDEAYA Biosciences by 23,050.0% during the third quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $29,000 after purchasing an additional 922 shares during the period. Quest Partners LLC purchased a new stake in IDEAYA Biosciences in the second quarter worth approximately $41,000. US Bancorp DE grew its position 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 purchasing an additional 689 shares during the period. Finally, Comerica Bank raised its stake in IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company's stock valued at $66,000 after buying an additional 1,324 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.