IDEAYA Biosciences (NASDAQ:IDYA) Trading 4.8% Higher - Here's What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s stock price was up 4.8% during trading on Monday . The company traded as high as $17.41 and last traded at $17.90. Approximately 53,688 shares traded hands during trading, a decline of 94% from the average daily volume of 938,158 shares. The stock had previously closed at $17.08.

Wall Street Analysts Forecast Growth

IDYA has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Royal Bank of Canada restated an "outperform" rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Finally, Stephens reiterated an "overweight" rating and issued a $50.00 price target on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.58.

IDEAYA Biosciences Stock Performance

The company has a market cap of $1.65 billion, a price-to-earnings ratio of -5.72 and a beta of 0.51. The company's fifty day moving average is $18.03 and its two-hundred day moving average is $23.54.

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 for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.82). The firm had revenue of $7.00 million for the quarter, compared to analysts' expectations of $7.00 million. On average, sell-side analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently modified their holdings of IDYA. Janus Henderson Group PLC raised its position in IDEAYA Biosciences by 13.5% during the fourth quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company's stock valued at $150,606,000 after acquiring an additional 695,263 shares in the last quarter. Norges Bank acquired a new stake in shares of IDEAYA Biosciences during the 4th quarter worth approximately $13,385,000. MPM Bioimpact LLC purchased a new position in shares of IDEAYA Biosciences during the 4th quarter valued at approximately $10,641,000. FMR LLC lifted its stake in shares of IDEAYA Biosciences by 2.6% in the 4th quarter. FMR LLC now owns 12,963,151 shares of the company's stock valued at $333,153,000 after purchasing an additional 327,498 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in IDEAYA Biosciences by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company's stock worth $130,507,000 after buying an additional 282,936 shares in the last quarter. Institutional investors and hedge funds 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.