IDEAYA Biosciences Sees Unusually High Options Volume (NASDAQ:IDYA)

Key Points

• Unusual options activity: Traders bought 9,704 put options on IDEAYA — about a 1,197% increase versus the average daily put volume, signaling elevated bearish positioning.
• Insider and institutional moves: Director Jeffrey Stein purchased 50,000 shares at $32.96, insiders own 2.5% while institutional ownership is ~98.29%, with firms like Millennium Management markedly increasing stakes.
• Stock and analyst snapshot: IDYA traded down to $32.16 (market cap ~$2.82B) despite a quarterly revenue and EPS beat, and analysts have an average rating of "Moderate Buy" with a mean target of $48.69.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) was the recipient of some unusual options trading on Monday. Stock traders acquired 9,704 put options on the company. This is an increase of approximately 1,197% compared to the average daily volume of 748 put options.

IDEAYA Biosciences Stock Performance

IDYA stock traded down $0.60 on Monday, reaching $32.16. The company's stock had a trading volume of 764,301 shares, compared to its average volume of 901,702. The firm has a market cap of $2.82 billion, a PE ratio of -24.46 and a beta of 0.09. The business has a fifty day simple moving average of $33.50 and a two-hundred day simple moving average of $31.86. IDEAYA Biosciences has a 12-month low of $13.45 and a 12-month high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.03) by $0.09. The company had revenue of $21.75 million for the quarter, compared to analysts' expectations of $5.95 million. During the same period in the previous year, the firm posted ($1.49) earnings per share. The firm's revenue for the quarter was up 55.7% compared to the same quarter last year. As a group, research analysts anticipate that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, Director Jeffrey Stein bought 50,000 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were purchased at an average price of $32.96 per share, for a total transaction of $1,648,000.00. Following the completion of the acquisition, the director owned 54,281 shares of the company's stock, valued at approximately $1,789,101.76. This trade represents a 1,167.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On IDEAYA Biosciences

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in shares of IDEAYA Biosciences by 30.1% in the 1st quarter. Royal Bank of Canada now owns 122,460 shares of the company's stock worth $2,006,000 after acquiring an additional 28,322 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in IDEAYA Biosciences by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company's stock worth $938,000 after purchasing an additional 4,308 shares during the period. Millennium Management LLC grew its holdings in IDEAYA Biosciences by 345.2% in the first quarter. Millennium Management LLC now owns 547,637 shares of the company's stock worth $8,970,000 after purchasing an additional 424,625 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of IDEAYA Biosciences by 39.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,344 shares of the company's stock valued at $70,000 after purchasing an additional 940 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of IDEAYA Biosciences by 1.6% during the second quarter. Geode Capital Management LLC now owns 2,113,164 shares of the company's stock valued at $44,424,000 after purchasing an additional 33,286 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of IDEAYA Biosciences from a "buy" rating to a "sell" rating in a report on Saturday, February 21st. Weiss Ratings restated a "sell (d-)" rating on shares of IDEAYA Biosciences in a research report on Thursday, January 22nd. Wedbush upped their price objective on shares of IDEAYA Biosciences from $49.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, February 18th. Cantor Fitzgerald reiterated an "overweight" rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Finally, Citigroup raised their target price on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Fifteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $48.69.

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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