IDEAYA Biosciences (NASDAQ:IDYA) Trading Down 4.8% - What's Next?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) shares dropped 4.8% during trading on Thursday . The stock traded as low as $21.00 and last traded at $20.89. Approximately 65,359 shares traded hands during trading, a decline of 92% from the average daily volume of 821,337 shares. The stock had previously closed at $21.95.

Analyst Ratings Changes

IDYA has been the subject of several research analyst reports. Wedbush restated an "outperform" rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Leerink Partners downgraded IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $41.00 to $27.00 in a research report on Tuesday, November 5th. Oppenheimer reiterated an "outperform" rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Stephens reissued an "overweight" rating and set a $50.00 price objective on shares of IDEAYA Biosciences in a report on Friday. Finally, UBS Group initiated coverage on shares of IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a "buy" rating and a $50.00 target price on the stock. Two equities research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.58.

IDEAYA Biosciences Price Performance

The company's 50 day simple moving average is $24.36 and its 200 day simple moving average is $29.79. The stock has a market cap of $1.82 billion, a P/E ratio of -9.01 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.82). The company had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.00 million. On average, equities research analysts predict that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its stake in IDEAYA Biosciences by 15.4% in the third quarter. State Street Corp now owns 3,317,936 shares of the company's stock valued at $105,112,000 after buying an additional 443,640 shares in the last quarter. Barclays PLC lifted its position in IDEAYA Biosciences by 188.8% in the 3rd quarter. Barclays PLC now owns 181,170 shares of the company's stock valued at $5,739,000 after acquiring an additional 118,438 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in IDEAYA Biosciences by 12.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 689,073 shares of the company's stock worth $21,830,000 after purchasing an additional 78,518 shares during the period. Verition Fund Management LLC bought a new position in IDEAYA Biosciences during the 3rd quarter worth about $246,000. Finally, General American Investors Co. Inc. acquired a new stake in shares of IDEAYA Biosciences in the 3rd quarter valued at about $2,851,000. 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.