IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Up - What's Next?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $19.07, but opened at $19.56. IDEAYA Biosciences shares last traded at $19.20, with a volume of 16,109 shares.

Wall Street Analysts Forecast Growth

IDYA has been the topic of several research reports. Stephens reaffirmed an "overweight" rating and issued a $50.00 price target on shares of IDEAYA Biosciences in a report on Friday, February 14th. Wedbush restated an "outperform" rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Two equities research 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.58.

IDEAYA Biosciences Stock Performance

The business's 50 day simple moving average is $22.37 and its 200-day simple moving average is $27.59. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -5.61 and a beta of 0.76.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $7.00 million during 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.

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Institutional Investors Weigh In On IDEAYA Biosciences

Several large investors have recently made changes to their positions in the company. Covestor Ltd lifted its stake in IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $29,000 after acquiring an additional 922 shares during the last quarter. R Squared Ltd bought a new position in shares of IDEAYA Biosciences during the 4th quarter valued at $35,000. GF Fund Management CO. LTD. acquired a new stake in shares of IDEAYA Biosciences in the 4th quarter valued at $47,000. 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 worth $54,000 after purchasing an additional 689 shares in the last quarter. Finally, KBC Group NV increased its position in IDEAYA Biosciences by 29.1% during the third quarter. KBC Group NV now owns 2,274 shares of the company's stock worth $72,000 after buying an additional 513 shares during 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.