IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Up 4.7% - Should You Buy?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s share price was up 4.7% during mid-day trading on Wednesday . The stock traded as high as $15.11 and last traded at $15.47. Approximately 67,310 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 868,289 shares. The stock had previously closed at $14.77.

Analyst Ratings Changes

A number of research firms recently issued reports on IDYA. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Wedbush reiterated an "outperform" rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Stephens reaffirmed an "overweight" rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a report on Friday, February 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Two 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $53.58.

IDEAYA Biosciences Stock Down 0.9 %

The business's fifty day moving average is $20.05 and its two-hundred day moving average is $25.04. The stock has a market capitalization of $1.28 billion, a PE ratio of -4.42 and a beta of 0.51.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released 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 business had revenue of $7.00 million for the quarter, compared to the consensus estimate of $7.00 million. Sell-side analysts expect that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IDYA. R Squared Ltd purchased a new position in shares of IDEAYA Biosciences during the 4th quarter worth approximately $35,000. GF Fund Management CO. LTD. purchased a new stake in IDEAYA Biosciences during the fourth quarter worth about $47,000. Daiwa Securities Group Inc. grew its stake in IDEAYA Biosciences by 44.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company's stock valued at $72,000 after acquiring an additional 853 shares during the last quarter. KBC Group NV raised its holdings in shares of IDEAYA Biosciences by 84.6% in the fourth quarter. KBC Group NV now owns 4,197 shares of the company's stock worth $108,000 after acquiring an additional 1,923 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in IDEAYA Biosciences in the third quarter valued at $245,000. 98.29% of the stock is owned by institutional investors and hedge funds.

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.