IDEAYA Biosciences (NASDAQ:IDYA) Stock: Insider Yujiro Hata Sells 26,338 Shares

Key Points

• CEO Yujiro Hata sold 26,338 shares of IDEAYA Biosciences at an average price of $37.41, generating approximately $985,305; his remaining stake fell 3.67% to 690,695 shares.
• IDEAYA shares traded down 0.6% to $36.06, while the company’s latest quarterly loss of $1.22 per share missed expectations despite revenue of $8.86 million, up sharply year over year.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $52.69, although some firms maintain sell ratings; institutional investors own 98.29% of the stock.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) CEO Yujiro Hata sold 26,338 shares of IDEAYA Biosciences stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $37.41, for a total value of $985,304.58. Following the completion of the transaction, the chief executive officer owned 690,695 shares of the company's stock, valued at approximately $25,838,899.95. The trade was a 3.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

IDEAYA Biosciences Trading Down 0.6%

Shares of IDYA traded down $0.20 during trading hours on Thursday, hitting $36.06. 548,701 shares of the stock traded hands, compared to its average volume of 877,582. The business has a fifty day moving average of $38.13 and a 200-day moving average of $34.29. IDEAYA Biosciences, Inc. has a 1-year low of $26.05 and a 1-year high of $42.68. The firm has a market capitalization of $3.17 billion, a PE ratio of -18.59 and a beta of -0.04.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The company had revenue of $8.86 million during the quarter, compared to analyst estimates of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The company's quarterly revenue was up 8800.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.88) EPS. As a group, equities research analysts expect that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Several large investors have recently made changes to their positions in the company. Congress Asset Management Co. grew its position in IDEAYA Biosciences by 25.5% in the third quarter. Congress Asset Management Co. now owns 147,696 shares of the company's stock valued at $5,674,000 after acquiring an additional 29,983 shares during the last quarter. Tidal Investments LLC raised its stake in IDEAYA Biosciences by 21.0% during the second quarter. Tidal Investments LLC now owns 135,847 shares of the company's stock worth $5,063,000 after acquiring an additional 23,538 shares in the last quarter. Nykredit A S bought a new position in shares of IDEAYA Biosciences in the second quarter worth about $76,000. Allianz Asset Management GmbH bought a new position in shares of IDEAYA Biosciences in the second quarter worth about $745,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of IDEAYA Biosciences in the 2nd quarter valued at approximately $1,452,000. Institutional investors and hedge funds own 98.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Wall Street Zen lowered shares of IDEAYA Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Citigroup reiterated a "market outperform" rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Wedbush upped their target price on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, Truist Financial reduced their target price on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.69.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights from tumor biology, cancer genetics and synthetic lethality to identify treatments designed to target specific molecular alterations in tumors.

Its development pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily in genetically defined cancers, including GNAQ- or GNA11-mutated uveal melanoma.

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