IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Sees Significant Increase in Short Interest

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the recipient of a significant growth in short interest during 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. Based on an average daily volume of 889,000 shares, the short-interest ratio is currently 11.2 days. Currently, 12.9% of the shares of the stock are short sold.

IDEAYA Biosciences Stock Down 2.4 %

IDYA traded down $0.54 during trading on Friday, hitting $22.18. The company’s stock had a trading volume of 528,239 shares, compared to its average volume of 804,845. The firm has a market cap of $1.92 billion, a PE ratio of -9.52 and a beta of 0.82. The business’s 50 day simple moving average is $26.14 and its 200-day simple moving average is $32.24. IDEAYA Biosciences has a one year low of $22.10 and a one year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the previous year, the firm earned ($0.46) EPS. Equities research analysts expect that IDEAYA Biosciences will post -2.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IDYA shares. UBS Group assumed coverage on 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 restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Stephens initiated coverage on IDEAYA Biosciences in a research note on Monday, November 18th. They issued an “overweight” rating and a $51.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday. Finally, Leerink Partnrs downgraded IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.67.

Institutional Investors Weigh In On IDEAYA Biosciences

Several large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its holdings in shares of IDEAYA Biosciences by 800.0% in the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after purchasing an additional 800 shares in the last quarter. Covestor Ltd raised its stake in shares of IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after acquiring an additional 922 shares in the last quarter. US Bancorp DE raised its stake 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 acquiring an additional 689 shares in the last quarter. KBC Group NV raised its stake in shares of IDEAYA Biosciences by 29.1% during the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock worth $72,000 after acquiring an additional 513 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in IDEAYA Biosciences during the 3rd quarter valued at approximately $74,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.