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

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IDYA shares. JPMorgan Chase & Co. increased their price objective on IDEAYA Biosciences from $63.00 to $66.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 price objective on the stock in a research note on Thursday, July 10th. Royal Bank Of Canada raised IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and reduced their price objective for the company from $57.00 to $30.00 in a research note on Wednesday, July 9th. Wells Fargo & Company started coverage on IDEAYA Biosciences in a report on Thursday, June 26th. They set an "overweight" rating and a $44.00 target price on the stock. Finally, TD Cowen started coverage on IDEAYA Biosciences in a report on Tuesday. They set a "buy" rating on the stock. Three 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 company. According to MarketBeat.com, IDEAYA Biosciences has a consensus rating of "Moderate Buy" and an average price target of $47.55.

IDEAYA Biosciences Stock Performance

The stock has a market capitalization of $2.17 billion, a P/E ratio of -6.92 and a beta of 0.03. The stock has a 50 day moving average of $21.20 and a 200 day moving average of $20.33.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.07). During the same period in the prior year, the business posted ($0.53) earnings per share. On average, research analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Institutional investors have recently modified their holdings of the company. CWM LLC raised its position in shares of IDEAYA Biosciences by 325.7% during the first quarter. CWM LLC now owns 2,371 shares of the company's stock worth $39,000 after purchasing an additional 1,814 shares during the period. PNC Financial Services Group Inc. raised its position in shares of IDEAYA Biosciences by 180.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company's stock worth $39,000 after purchasing an additional 1,546 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of IDEAYA Biosciences during the fourth quarter worth $47,000. Signaturefd LLC raised its position in shares of IDEAYA Biosciences by 374.8% during the first quarter. Signaturefd LLC now owns 2,877 shares of the company's stock worth $47,000 after purchasing an additional 2,271 shares during the period. Finally, Parallel Advisors LLC raised its position in IDEAYA Biosciences by 72.4% during the second quarter. Parallel Advisors LLC now owns 3,260 shares of the company's stock valued at $69,000 after buying an additional 1,369 shares during the period. Institutional investors and hedge funds own 98.29% of the company's stock.

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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