IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Down 4.5% - Here's Why

Key Points

• IDEAYA shares fell about 4.5% intraday to roughly $32.08 on light trading (≈138,543 shares, down ~88% from average volume).
• Analysts remain largely bullish—15 Buys versus 1 Hold and 1 Sell—giving a consensus rating of Moderate Buy and an average price target of $50.44, with multiple firms recently raising targets.
• The company recently beat quarterly estimates (EPS -$0.94 vs. -$1.03 est.; revenue $10.88M vs. $5.95M est.), an insider purchased 50,000 shares, and the market cap is about $2.77B with a negative P/E.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s share price dropped 4.5% during mid-day trading on Tuesday . The company traded as low as $31.67 and last traded at $32.0790. Approximately 138,543 shares changed hands during trading, a decline of 88% from the average daily volume of 1,120,850 shares. The stock had previously closed at $33.60.

Wall Street Analysts Forecast Growth

IDYA has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price target on IDEAYA Biosciences from $44.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, April 14th. Citigroup upped their price target on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Wedbush upped their price target on IDEAYA Biosciences from $52.00 to $58.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 14th. Truist Financial set a $65.00 price target on IDEAYA Biosciences in a research note on Monday, April 13th. Finally, UBS Group started coverage on shares of IDEAYA Biosciences in a report on Wednesday, January 7th. They set a "buy" rating and a $50.00 price objective for the company. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $50.44.

IDEAYA Biosciences Trading Down 6.1%

The business has a 50-day moving average price of $32.43 and a 200 day moving average price of $32.78. The stock has a market capitalization of $2.77 billion, a P/E ratio of -24.04 and a beta of 0.02.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, beating analysts' consensus estimates of ($1.03) by $0.09. The business had revenue of $10.88 million during the quarter, compared to the consensus estimate of $5.95 million. During the same period in the previous year, the business posted ($1.49) EPS. The firm's revenue was up 55.7% on a year-over-year basis. On average, sell-side analysts predict that IDEAYA Biosciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In other IDEAYA Biosciences news, Director Jeffrey Stein purchased 50,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the acquisition, the director owned 54,281 shares in the company, valued at approximately $1,789,101.76. The trade was a 1,167.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.50% of the company's stock.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in IDEAYA Biosciences by 1.5% in the third quarter. Arizona State Retirement System now owns 23,324 shares of the company's stock worth $635,000 after buying an additional 353 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its position in IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company's stock worth $40,000 after buying an additional 380 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in IDEAYA Biosciences by 16.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company's stock worth $66,000 after purchasing an additional 436 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in IDEAYA Biosciences by 5.2% in the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company's stock worth $335,000 after purchasing an additional 476 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in IDEAYA Biosciences by 16.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company's stock worth $106,000 after purchasing an additional 537 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors.

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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