IDEAYA Biosciences (NASDAQ:IDYA) Trading Up 6.6% - Here's What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report)'s stock price traded up 6.6% on Thursday . The company traded as high as $25.54 and last traded at $25.19. 1,243,630 shares were traded during trading, an increase of 8% from the average session volume of 1,149,934 shares. The stock had previously closed at $23.63.

Wall Street Analyst Weigh In

IDYA has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on shares of IDEAYA Biosciences in a research note on Tuesday, July 22nd. They issued a "buy" rating on the stock. Royal Bank Of Canada raised IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and lowered their price objective for the company from $57.00 to $30.00 in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on IDEAYA Biosciences from $66.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday. The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 target price for the company in a research report on Thursday, July 10th. Finally, Wells Fargo & Company initiated coverage on IDEAYA Biosciences in a research note on Thursday, June 26th. They set an "overweight" rating and a $44.00 price target for the company. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.09.

IDEAYA Biosciences Trading Up 2.1%

The firm has a market capitalization of $2.19 billion, a PE ratio of -6.97 and a beta of 0.03. The business has a fifty day moving average price of $21.48 and a two-hundred day moving average price of $20.26.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its 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 last year, the business earned ($0.53) earnings per share. On average, equities analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of IDEAYA Biosciences by 33.0% during the second quarter. CWM LLC now owns 3,153 shares of the company's stock worth $66,000 after purchasing an additional 782 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in IDEAYA Biosciences in the second quarter worth $216,000. KLP Kapitalforvaltning AS raised its position in IDEAYA Biosciences by 16.1% in the second quarter. KLP Kapitalforvaltning AS now owns 17,300 shares of the company's stock worth $364,000 after acquiring an additional 2,400 shares in the last quarter. Platinum Investment Management Ltd. raised its position in IDEAYA Biosciences by 9.3% in the second quarter. Platinum Investment Management Ltd. now owns 166,917 shares of the company's stock worth $3,509,000 after acquiring an additional 14,204 shares in the last quarter. Finally, Signaturefd LLC raised its position in IDEAYA Biosciences by 58.1% in the second quarter. Signaturefd LLC now owns 4,549 shares of the company's stock worth $96,000 after acquiring an additional 1,672 shares in the last quarter. Hedge funds and other institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Company Profile

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.