IDEAYA Biosciences (NASDAQ:IDYA) Trading Down 3.2%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) shares traded down 3.2% during trading on Thursday . The stock traded as low as $38.88 and last traded at $38.90. 88,103 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 847,028 shares. The stock had previously closed at $40.17.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of IDEAYA Biosciences from $51.00 to $57.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. Royal Bank of Canada lifted their price target on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, February 21st. Capital One Financial restated an "overweight" rating on shares of IDEAYA Biosciences in a report on Thursday, February 22nd. Citigroup lifted their target price on IDEAYA Biosciences from $40.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Finally, BTIG Research initiated coverage on IDEAYA Biosciences in a research note on Friday, March 8th. They set a "buy" rating and a $55.00 price target for the company. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $44.55.

IDEAYA Biosciences Stock Down 6.3 %

The firm's 50 day moving average price is $44.19 and its two-hundred day moving average price is $36.93. The firm has a market capitalization of $2.80 billion, a PE ratio of -19.10 and a beta of 0.80.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its earnings results on Tuesday, February 20th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 23.00%. The business had revenue of $3.90 million for the quarter, compared to analyst estimates of $8.84 million. The business's revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that IDEAYA Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Yujiro S. Hata sold 23,557 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the completion of the sale, the chief executive officer now owns 677,887 shares of the company's stock, valued at $30,870,973.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Briseno Andres Ruiz sold 2,000 shares of IDEAYA Biosciences stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $42.03, for a total value of $84,060.00. Following the completion of the transaction, the insider now owns 26,531 shares in the company, valued at approximately $1,115,097.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Yujiro S. Hata sold 23,557 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $45.54, for a total value of $1,072,785.78. Following the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at $30,870,973.98. The disclosure for this sale can be found here. Insiders have sold 27,557 shares of company stock worth $1,248,886 in the last three months. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in shares of IDEAYA Biosciences by 7.8% in the 1st quarter. Swiss National Bank now owns 63,800 shares of the company's stock valued at $714,000 after buying an additional 4,600 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of IDEAYA Biosciences by 23.9% during the first quarter. JPMorgan Chase & Co. now owns 20,058 shares of the company's stock valued at $224,000 after purchasing an additional 3,870 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of IDEAYA Biosciences by 58.5% during the first quarter. MetLife Investment Management LLC now owns 17,271 shares of the company's stock valued at $193,000 after purchasing an additional 6,374 shares during the last quarter. Rhumbline Advisers raised its position in shares of IDEAYA Biosciences by 4.8% during the 1st quarter. Rhumbline Advisers now owns 39,982 shares of the company's stock worth $447,000 after purchasing an additional 1,835 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of IDEAYA Biosciences by 56.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 425,183 shares of the company's stock worth $4,758,000 after purchasing an additional 153,022 shares during the last quarter. Institutional investors and hedge funds 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.