IDEAYA Biosciences (NASDAQ:IDYA) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of IDEAYA Biosciences (NASDAQ:IDYA - Free Report) from an outperform rating to a moderate buy rating in a research note released on Wednesday morning, Marketbeat Ratings reports. They currently have $30.00 target price on the stock, down from their previous target price of $57.00.

IDYA has been the topic of a number of other research reports. Wells Fargo & Company initiated coverage on IDEAYA Biosciences in a research report on Thursday, June 26th. They set an "overweight" rating and a $44.00 price target on the stock. JPMorgan Chase & Co. upped their target price on IDEAYA Biosciences from $63.00 to $66.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.55.

IDEAYA Biosciences Price Performance

NASDAQ IDYA traded down $0.32 during trading on Wednesday, reaching $22.48. 804,315 shares of the company's stock were exchanged, compared to its average volume of 993,697. The business has a 50 day moving average price of $20.54 and a 200-day moving average price of $20.48. The stock has a market capitalization of $1.97 billion, a P/E ratio of -6.26 and a beta of 0.03. IDEAYA Biosciences has a fifty-two week low of $13.45 and a fifty-two week high of $44.42.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.82) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.07). During the same period in the previous year, the business earned ($0.53) earnings per share. On average, analysts forecast that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in IDEAYA Biosciences by 72.4% during the second quarter. Parallel Advisors LLC now owns 3,260 shares of the company's stock worth $69,000 after buying an additional 1,369 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of IDEAYA Biosciences by 9.6% in the 1st quarter. Rhumbline Advisers now owns 124,437 shares of the company's stock valued at $2,038,000 after purchasing an additional 10,876 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of IDEAYA Biosciences by 345.2% in the 1st quarter. Millennium Management LLC now owns 547,637 shares of the company's stock valued at $8,970,000 after purchasing an additional 424,625 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of IDEAYA Biosciences by 8.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company's stock valued at $938,000 after purchasing an additional 4,308 shares in the last quarter. Finally, MPM Bioimpact LLC boosted its holdings in shares of IDEAYA Biosciences by 3.9% in the 1st quarter. MPM Bioimpact LLC now owns 430,161 shares of the company's stock valued at $7,046,000 after purchasing an additional 16,126 shares in the last quarter. Institutional investors and hedge funds 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.