IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Down 4.8% – Here’s What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was down 4.8% on Thursday . The company traded as low as $21.00 and last traded at $20.89. Approximately 65,359 shares changed hands during trading, a decline of 92% from the average daily volume of 821,337 shares. The stock had previously closed at $21.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IDYA shares. UBS Group started coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They set a “buy” rating and a $50.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Leerink Partnrs cut IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Leerink Partners cut 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, Stephens started coverage on IDEAYA Biosciences in a report on Monday, November 18th. They issued an “overweight” rating and a $51.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Performance

The stock’s 50 day simple moving average is $24.60 and its two-hundred day simple moving average is $30.18. The firm has a market capitalization of $1.84 billion, a PE ratio of -9.21 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.86). Equities research analysts expect that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of IDEAYA Biosciences by 15.4% during the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after buying an additional 443,640 shares during the period. Barclays PLC raised its position in shares of IDEAYA Biosciences by 188.8% during the 3rd quarter. Barclays PLC now owns 181,170 shares of the company’s stock valued at $5,739,000 after buying an additional 118,438 shares during the period. Charles Schwab Investment Management Inc. raised its position in IDEAYA Biosciences by 12.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 689,073 shares of the company’s stock valued at $21,830,000 after purchasing an additional 78,518 shares during the period. Verition Fund Management LLC purchased a new stake in IDEAYA Biosciences in the third quarter valued at approximately $246,000. Finally, General American Investors Co. Inc. purchased a new stake in IDEAYA Biosciences in the third quarter valued at approximately $2,851,000. Hedge funds and other institutional investors 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.