IDEAYA Biosciences (NASDAQ:IDYA) Releases Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Key Points

• IDEAYA Biosciences reported a quarterly loss of $1.22 per share, missing analysts’ consensus estimate of a $1.06 loss by $0.16. Revenue increased 8,800% year over year.
• The stock rose 0.8% to $35.68 during Tuesday trading, with a market capitalization of approximately $3.13 billion and a 52-week range of $22.09 to $40.58.
• Analyst sentiment remains broadly positive, with 14 Buy ratings, one Hold, and one Sell; the consensus rating is “Moderate Buy” with an average price target of $50.25.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($1.22) earnings per share for the quarter, missing analysts' consensus estimates of ($1.06) by ($0.16), Zacks reports. The firm's revenue was up 8800.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.88) earnings per share.

IDEAYA Biosciences Trading Up 0.8%

NASDAQ:IDYA traded up $0.28 during mid-day trading on Tuesday, hitting $35.68. The stock had a trading volume of 140,002 shares, compared to its average volume of 1,104,007. IDEAYA Biosciences has a twelve month low of $22.09 and a twelve month high of $40.58. The stock has a 50-day simple moving average of $33.82 and a two-hundred day simple moving average of $32.65. The company has a market capitalization of $3.13 billion, a PE ratio of -22.26 and a beta of -0.10.

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 value of $382,095.50. Following the sale, the chief accounting officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IDYA. Invesco Ltd. raised its position in shares of IDEAYA Biosciences by 91.9% during the 4th quarter. Invesco Ltd. now owns 238,314 shares of the company's stock worth $8,239,000 after acquiring an additional 114,118 shares in the last quarter. XTX Topco Ltd acquired a new stake in IDEAYA Biosciences during the fourth quarter worth approximately $2,288,000. Virtus Investment Advisers LLC lifted its position in shares of IDEAYA Biosciences by 53.1% during the 4th quarter. Virtus Investment Advisers LLC now owns 7,819 shares of the company's stock worth $270,000 after buying an additional 2,712 shares during the last quarter. Susquehanna Portfolio Strategies LLC boosted its holdings in shares of IDEAYA Biosciences by 24.0% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 202,434 shares of the company's stock valued at $6,998,000 after buying an additional 39,171 shares in the last quarter. Finally, Tang Capital Management LLC grew its position in shares of IDEAYA Biosciences by 12.5% in the 4th quarter. Tang Capital Management LLC now owns 450,000 shares of the company's stock valued at $15,556,000 after buying an additional 50,000 shares during the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IDYA has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their target price on IDEAYA Biosciences from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Cantor Fitzgerald reissued an "overweight" rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of IDEAYA Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. Wedbush reaffirmed an "outperform" rating and set a $58.00 target price on shares of IDEAYA Biosciences in a research note on Friday, June 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $50.25.

About IDEAYA Biosciences

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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