IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 1-Year Low - Here's What Happened

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $28.00 and last traded at $28.49, with a volume of 34140 shares trading hands. The stock had previously closed at $28.15.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IDYA shares. BTIG Research upped their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, July 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. UBS Group started coverage on shares of IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a "buy" rating and a $50.00 price target for the company. Cantor Fitzgerald started coverage on IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an "overweight" rating on the stock. Finally, Wedbush dropped their price target on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 24th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of "Buy" and a consensus target price of $55.45.

IDEAYA Biosciences Trading Up 1.6 %

The business has a fifty day moving average price of $33.37 and a two-hundred day moving average price of $37.08. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -13.02 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.14). During the same period in the prior year, the business earned ($0.50) earnings per share. On average, analysts anticipate that IDEAYA Biosciences, Inc. will post -2.47 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in shares of IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company's stock worth $29,000 after buying an additional 800 shares during the last quarter. Covestor Ltd raised its stake in IDEAYA Biosciences by 9,225.0% during the 1st quarter. Covestor Ltd now owns 1,119 shares of the company's stock valued at $49,000 after purchasing an additional 1,107 shares during the last quarter. Quest Partners LLC bought a new stake in IDEAYA Biosciences in the 2nd quarter valued at $41,000. Comerica Bank grew its position in IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company's stock worth $66,000 after purchasing an additional 1,324 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company's stock worth $54,000 after purchasing an additional 689 shares during the period. Institutional investors own 98.29% of the company's stock.

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.