Short Interest in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Expands By 10.1%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 10,000,000 shares, a growth of 10.1% from the December 15th total of 9,080,000 shares. Approximately 12.9% of the shares of the company are sold short. Based on an average daily volume of 889,000 shares, the short-interest ratio is presently 11.2 days.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in IDEAYA Biosciences by 444.2% in the fourth quarter. SG Americas Securities LLC now owns 18,486 shares of the company's stock worth $475,000 after acquiring an additional 15,089 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of IDEAYA Biosciences by 17.8% during the third quarter. JPMorgan Chase & Co. now owns 79,780 shares of the company's stock valued at $2,527,000 after buying an additional 12,029 shares during the last quarter. Geode Capital Management LLC increased its position in shares of IDEAYA Biosciences by 9.8% during the third quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company's stock valued at $61,645,000 after acquiring an additional 172,838 shares in the last quarter. Barclays PLC increased its position in shares of IDEAYA Biosciences by 188.8% during the third 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. Finally, XTX Topco Ltd purchased a new position in IDEAYA Biosciences in the 3rd quarter worth approximately $245,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IDYA shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. UBS Group initiated coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They issued a "buy" rating and a $50.00 price target on the stock. Wedbush reissued an "outperform" rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Leerink Partners lowered shares of IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Finally, Leerink Partnrs cut IDEAYA Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $53.67.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ IDYA traded down $0.54 during trading hours on Monday, hitting $22.18. The company's stock had a trading volume of 528,239 shares, compared to its average volume of 804,845. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -9.52 and a beta of 0.82. IDEAYA Biosciences has a 12 month low of $22.10 and a 12 month high of $47.74. The business has a 50-day simple moving average of $26.14 and a 200-day simple moving average of $32.23.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same quarter in the previous year, the firm posted ($0.46) EPS. On average, equities research analysts forecast that IDEAYA Biosciences will post -2.45 EPS for the current year.

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.