IDEAYA Biosciences (NASDAQ:IDYA) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded IDEAYA Biosciences from “hold” to “sell,” though broader analyst sentiment remains “Moderate Buy,” with 14 buy ratings, one hold, one sell, and an average price target of $50.12.
• IDEAYA shares opened at $36.30, while the company’s latest quarterly results showed a $1.22 per-share loss, missing estimates, despite revenue of $8.86 million—up sharply year over year.
• Institutional ownership is high at 98.29%, with BlackRock and Jupiter Topco among investors establishing new positions; an IDEAYA chief accounting officer also sold 9,550 shares.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

IDYA has been the topic of several other research reports. Royal Bank Of Canada decreased their price target on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, July 7th. Cantor Fitzgerald reissued an "overweight" rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of IDEAYA Biosciences in a research report on Friday, July 17th. Truist Financial decreased their target price on IDEAYA Biosciences from $63.00 to $59.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Finally, Mizuho lowered their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, May 7th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $50.12.

IDEAYA Biosciences Trading Down 1.0%

Shares of IDEAYA Biosciences stock opened at $36.30 on Friday. The company's 50-day moving average price is $35.19 and its 200-day moving average price is $32.71. IDEAYA Biosciences has a 12-month low of $23.23 and a 12-month high of $40.58. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -18.71 and a beta of -0.10.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.16). IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The firm had revenue of $8.86 million for the quarter, compared to analysts' expectations of $8.02 million. During the same period in the prior year, the firm posted ($0.88) EPS. IDEAYA Biosciences's revenue was up 8800.0% on a year-over-year basis. On average, sell-side analysts predict that IDEAYA Biosciences will post -4.38 earnings per share for the current year.

Insider Activity at IDEAYA Biosciences

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the firm's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $382,095.50. Following the sale, the chief accounting officer owned 26,466 shares in the company, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IDYA. BlackRock Inc. purchased a new stake in IDEAYA Biosciences during the second quarter valued at about $331,452,000. Jupiter Topco LLC purchased a new position in shares of IDEAYA Biosciences in the 2nd quarter worth about $319,728,000. GSK plc bought a new position in shares of IDEAYA Biosciences during the 4th quarter valued at about $46,093,000. State Street Corp increased its position in shares of IDEAYA Biosciences by 27.6% during the 4th quarter. State Street Corp now owns 4,134,641 shares of the company's stock valued at $142,935,000 after purchasing an additional 893,707 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of IDEAYA Biosciences by 11.8% during the 4th quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company's stock valued at $248,344,000 after purchasing an additional 758,117 shares during the last quarter. Institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA's pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA's approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.

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