IDEAYA Biosciences (NASDAQ:IDYA) Sees Unusually-High Trading Volume

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares saw an uptick in trading volume on Wednesday . 374,942 shares were traded during mid-day trading, a decline of 59% from the previous session’s volume of 915,148 shares.The stock last traded at $42.45 and had previously closed at $42.25.

Wall Street Analyst Weigh In

Several research firms have weighed in on IDYA. BTIG Research boosted their target price on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. The Goldman Sachs Group cut their target price on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Lifesci Capital raised shares of IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday. Oppenheimer upped their target price on shares of IDEAYA Biosciences from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Royal Bank of Canada increased their price objective on shares of IDEAYA Biosciences from $53.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $52.92.

IDEAYA Biosciences Price Performance

The company’s 50-day moving average is $38.52 and its 200-day moving average is $41.35. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -19.42 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. IDEAYA Biosciences’s revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.49) EPS. Sell-side analysts anticipate that IDEAYA Biosciences, Inc. will post -2.22 earnings per share for the current year.

Insider Activity

In other news, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the sale, the chief executive officer now owns 677,887 shares in the company, valued at $28,206,878.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Yujiro S. Hata sold 34,433 shares of IDEAYA Biosciences stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.81, for a total value of $1,439,643.73. Following the completion of the sale, the chief executive officer now owns 677,887 shares in the company, valued at $28,342,455.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the sale, the chief executive officer now owns 677,887 shares of the company’s stock, valued at approximately $28,206,878.07. The disclosure for this sale can be found here. Insiders have sold 119,644 shares of company stock worth $4,832,228 over the last 90 days. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds have recently added to or reduced their stakes in the business. Fiera Capital Corp boosted its holdings in shares of IDEAYA Biosciences by 22.6% during the second quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock valued at $46,886,000 after acquiring an additional 246,010 shares during the period. Rhumbline Advisers raised its position in IDEAYA Biosciences by 9.7% in the second quarter. Rhumbline Advisers now owns 105,797 shares of the company’s stock worth $3,715,000 after acquiring an additional 9,387 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 worth $11,112,000 after acquiring an additional 95,129 shares in the last quarter. Nisa Investment Advisors LLC raised its position in IDEAYA Biosciences by 38.4% in the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after acquiring an additional 927 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in IDEAYA Biosciences by 411.3% in the second quarter. SG Americas Securities LLC now owns 11,775 shares of the company’s stock worth $413,000 after acquiring an additional 9,472 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.