IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 1-Year Low – Here’s Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $25.20 and last traded at $25.35, with a volume of 60643 shares traded. The stock had previously closed at $25.54.

Analysts Set New Price Targets

Several research firms have weighed in on IDYA. Stifel Nicolaus boosted their target price 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. Cantor Fitzgerald assumed coverage on shares of IDEAYA Biosciences in a research note on Tuesday, October 15th. They set an “overweight” rating on the stock. Citigroup decreased their target price on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Stephens began coverage on IDEAYA Biosciences in a research report on Monday. They set an “overweight” rating and a $51.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and set a $52.00 price objective 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, IDEAYA Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Trading Up 2.1 %

The company has a 50 day moving average of $30.79 and a two-hundred day moving average of $36.00.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the prior year, the company earned ($0.46) earnings per share. On average, equities analysts forecast that IDEAYA Biosciences, Inc. will post -2.46 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in shares of IDEAYA Biosciences by 38.4% during the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock valued at $117,000 after acquiring an additional 927 shares during the period. Quest Partners LLC purchased a new stake in shares of IDEAYA Biosciences in the second quarter valued at $41,000. Price T Rowe Associates Inc. MD boosted its position in shares of IDEAYA Biosciences by 13.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock worth $177,825,000 after buying an additional 486,222 shares during the period. Scientech Research LLC grew its holdings in shares of IDEAYA Biosciences by 362.3% during the second quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock valued at $973,000 after buying an additional 21,714 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in IDEAYA Biosciences by 34.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company’s stock valued at $31,056,000 after buying an additional 226,514 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.