IDEAYA Biosciences (NASDAQ:IDYA) Stock Rating Lowered by Wall Street Zen

Key Points

• IDEAYA Biosciences has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, while multiple other brokerages maintained or adjusted their ratings.
• The stock opened at $26.24, with a 1-year price range of $13.45 to $32.67, and has a market capitalization of $2.30 billion.
• Institutional investors own approximately 98.29% of IDEAYA Biosciences, indicating strong institutional support.

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

Several other brokerages have also commented on IDYA. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Oppenheimer set a $36.00 price objective on shares of IDEAYA Biosciences and gave the stock an "outperform" rating in a report on Monday, September 8th. Mizuho upped their price objective on shares of IDEAYA Biosciences from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Royal Bank Of Canada upped their price objective on shares of IDEAYA Biosciences from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, September 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, IDEAYA Biosciences has an average rating of "Moderate Buy" and an average target price of $43.36.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $26.24 on Friday. The firm has a 50 day simple moving average of $25.25 and a 200-day simple moving average of $21.77. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $32.67. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -6.92 and a beta of 0.14.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.03). The firm had revenue of $6.00 million for the quarter, compared to analysts' expectations of $3.48 million. During the same quarter in the prior year, the company posted ($0.68) EPS. The business's revenue was up NaN% on a year-over-year basis. Equities analysts expect that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of IDYA. GAMMA Investing LLC raised its holdings in shares of IDEAYA Biosciences by 2,490.9% in the 1st quarter. GAMMA Investing LLC now owns 7,125 shares of the company's stock valued at $1,170,000 after purchasing an additional 6,850 shares in the last quarter. Rhumbline Advisers raised 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. Handelsbanken Fonder AB raised its holdings in shares of IDEAYA Biosciences by 35.6% in the 1st quarter. Handelsbanken Fonder AB now owns 34,300 shares of the company's stock valued at $562,000 after purchasing an additional 9,000 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of IDEAYA Biosciences by 46.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company's stock valued at $109,000 after purchasing an additional 2,112 shares in the last quarter. Finally, Palumbo Wealth Management LLC grew its position in shares of IDEAYA Biosciences by 65.8% in the 1st quarter. Palumbo Wealth Management LLC now owns 22,402 shares of the company's stock valued at $367,000 after buying an additional 8,893 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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