IDEAYA Biosciences (NASDAQ:IDYA) Trading Up 4.7% – Still a Buy?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) rose 4.7% during mid-day trading on Wednesday . The stock traded as high as $15.11 and last traded at $15.47. Approximately 67,310 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 868,289 shares. The stock had previously closed at $14.77.

Wall Street Analysts Forecast Growth

IDYA has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Wedbush restated an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Price Performance

The firm’s 50 day moving average price is $20.52 and its two-hundred day moving average price is $25.47. The stock has a market cap of $1.39 billion, a PE ratio of -4.83 and a beta of 0.76.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $7.00 million. Analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in IDEAYA Biosciences by 9.5% in the 4th quarter. California State Teachers Retirement System now owns 71,726 shares of the company’s stock worth $1,843,000 after purchasing an additional 6,198 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of IDEAYA Biosciences in the fourth quarter worth about $47,000. Neo Ivy Capital Management bought a new position in shares of IDEAYA Biosciences in the fourth quarter valued at approximately $3,361,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in IDEAYA Biosciences by 1.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 323,286 shares of the company’s stock valued at $8,308,000 after acquiring an additional 4,790 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in IDEAYA Biosciences by 50.7% during the fourth quarter. Voloridge Investment Management LLC now owns 286,759 shares of the company’s stock valued at $7,370,000 after acquiring an additional 96,466 shares in the last quarter. 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.