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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $24.20 and last traded at $24.78, with a volume of 198250 shares trading hands. The stock had previously closed at $25.16.

Analyst Ratings Changes

Several analysts recently issued reports on IDYA shares. UBS Group started coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They set a "buy" rating and a $50.00 price objective for the company. Stifel Nicolaus upped their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. Stephens assumed coverage on IDEAYA Biosciences in a research report on Monday, November 18th. They issued an "overweight" rating and a $51.00 price target on the stock. Leerink Partnrs cut IDEAYA Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IDEAYA Biosciences has an average rating of "Moderate Buy" and a consensus price target of $53.67.

IDEAYA Biosciences Stock Down 0.9 %

The firm has a 50-day moving average of $27.75 and a 200 day moving average of $33.47. The stock has a market capitalization of $2.15 billion, a P/E ratio of -10.70 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping analysts' consensus estimates of ($0.63) by $0.03. During the same quarter in the prior year, the company earned ($0.46) EPS. Analysts predict that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of IDEAYA Biosciences by 17.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 79,780 shares of the company's stock worth $2,527,000 after acquiring an additional 12,029 shares in the last quarter. Geode Capital Management LLC raised its position in IDEAYA Biosciences by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company's stock valued at $61,645,000 after purchasing an additional 172,838 shares during the last quarter. Barclays PLC boosted its stake in IDEAYA Biosciences by 188.8% in the third quarter. Barclays PLC now owns 181,170 shares of the company's stock worth $5,739,000 after purchasing an additional 118,438 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of IDEAYA Biosciences during the third quarter worth $245,000. Finally, Two Sigma Advisers LP grew its holdings in shares of IDEAYA Biosciences by 1.7% during the third quarter. Two Sigma Advisers LP now owns 468,100 shares of the company's stock worth $14,829,000 after purchasing an additional 7,700 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.