IDEAYA Biosciences (NASDAQ:IDYA) Rating Increased to Moderate Buy 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 report issued on Wednesday, MarketBeat reports. Royal Bank Of Canada currently has $30.00 price target on the stock, down from their prior price target of $57.00.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of IDEAYA Biosciences from $63.00 to $66.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Wells Fargo & Company initiated coverage on IDEAYA Biosciences in a research report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price objective for the company. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $47.55.

IDEAYA Biosciences Stock Down 2.4%

Shares of NASDAQ:IDYA traded down $0.55 during midday trading on Wednesday, reaching $22.42. The company's stock had a trading volume of 405,293 shares, compared to its average volume of 1,011,240. The stock has a fifty day moving average of $20.46 and a 200 day moving average of $20.55. IDEAYA Biosciences has a twelve month low of $13.45 and a twelve month high of $44.42. The firm has a market capitalization of $1.96 billion, a PE ratio of -6.25 and a beta of 0.03.

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 the consensus estimate of ($0.75) by ($0.07). During the same period in the prior year, the business earned ($0.53) earnings per share. Sell-side analysts anticipate that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in shares of IDEAYA Biosciences during the 4th quarter valued at about $47,000. CWM LLC raised its position in shares of IDEAYA Biosciences by 325.7% during the 1st quarter. CWM LLC now owns 2,371 shares of the company's stock valued at $39,000 after buying an additional 1,814 shares during the period. PNC Financial Services Group Inc. lifted its holdings in IDEAYA Biosciences by 180.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company's stock valued at $39,000 after acquiring an additional 1,546 shares during the last quarter. Daiwa Securities Group Inc. grew its position in IDEAYA Biosciences by 44.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company's stock worth $72,000 after acquiring an additional 853 shares during the period. Finally, Signaturefd LLC increased its stake in IDEAYA Biosciences by 374.8% during the first quarter. Signaturefd LLC now owns 2,877 shares of the company's stock worth $47,000 after acquiring an additional 2,271 shares during 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.