IDEAYA Biosciences (NASDAQ:IDYA) Trading Down 6.1% – Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price was down 6.1% on Thursday . The stock traded as low as $26.61 and last traded at $26.62. Approximately 273,356 shares were traded during trading, a decline of 68% from the average daily volume of 867,246 shares. The stock had previously closed at $28.35.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IDYA shares. Stifel Nicolaus lifted their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Stephens initiated coverage on shares of IDEAYA Biosciences in a report on Monday, November 18th. They set an “overweight” rating and a $51.00 price objective on the stock. UBS Group initiated coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Finally, Wedbush restated an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.67.

IDEAYA Biosciences Trading Up 5.4 %

The stock’s fifty day simple moving average is $29.18 and its 200-day simple moving average is $34.92.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter last year, the business earned ($0.46) EPS. Equities analysts predict that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Large investors have recently modified their holdings of the company. California State Teachers Retirement System grew its position in shares of IDEAYA Biosciences by 19.0% in the 1st quarter. California State Teachers Retirement System now owns 57,535 shares of the company’s stock valued at $2,525,000 after buying an additional 9,176 shares during the last quarter. Comerica Bank lifted its stake in shares of IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after acquiring an additional 1,324 shares during the period. SG Americas Securities LLC lifted its stake in shares of IDEAYA Biosciences by 411.3% in the second quarter. SG Americas Securities LLC now owns 11,775 shares of the company’s stock valued at $413,000 after purchasing an additional 9,472 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of IDEAYA Biosciences by 38.4% in the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock valued at $117,000 after purchasing an additional 927 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of IDEAYA Biosciences by 43.0% in the second quarter. Bank of New York Mellon Corp now owns 316,492 shares of the company’s stock valued at $11,112,000 after purchasing an additional 95,129 shares during the period. 98.29% of the stock is 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.