IDEAYA Biosciences, Inc. (NASDAQ:IDYA) CEO Sells $1,439,643.73 in Stock

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) CEO Yujiro S. Hata sold 34,433 shares of the business's stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total value of $1,439,643.73. Following the sale, the chief executive officer now owns 677,887 shares of the company's stock, valued at $28,342,455.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

IDEAYA Biosciences Stock Performance

IDYA stock traded down $0.91 during midday trading on Thursday, hitting $41.53. 532,228 shares of the stock were exchanged, compared to its average volume of 813,169. IDEAYA Biosciences, Inc. has a fifty-two week low of $20.84 and a fifty-two week high of $47.74. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -21.11 and a beta of 0.83. The stock's 50-day moving average price is $42.13 and its 200-day moving average price is $38.93.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same period last year, the company earned ($0.49) EPS. The business's revenue was down 100.0% compared to the same quarter last year. Research analysts anticipate that IDEAYA Biosciences, Inc. will post -2.33 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on IDYA shares. Royal Bank of Canada raised their price objective on IDEAYA Biosciences from $43.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, February 21st. BTIG Research initiated coverage on shares of IDEAYA Biosciences in a report on Friday, March 8th. They set a "buy" rating and a $55.00 price target for the company. Citigroup upped their price target on IDEAYA Biosciences from $40.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Wedbush reaffirmed an "outperform" rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, May 8th. Finally, Capital One Financial restated an "overweight" rating on shares of IDEAYA Biosciences in a research note on Thursday, February 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $46.80.

Hedge Funds Weigh In On IDEAYA Biosciences

Large investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company's stock worth $49,000 after buying an additional 1,107 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in IDEAYA Biosciences in the first quarter worth $67,000. SG Americas Securities LLC bought a new position in IDEAYA Biosciences in the 1st quarter worth about $101,000. AJOVista LLC acquired a new position in shares of IDEAYA Biosciences during the fourth quarter worth approximately $99,000. Finally, Bellevue Group AG bought a new position in IDEAYA Biosciences in the 1st quarter valued at about $145,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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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