IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Sees Significant Increase in Short Interest

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 10,000,000 shares, an increase of 10.1% from the December 15th total of 9,080,000 shares. Based on an average daily trading volume, of 889,000 shares, the short-interest ratio is currently 11.2 days. Approximately 12.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP grew its holdings in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 800 shares in the last quarter. Covestor Ltd lifted its position in IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after acquiring an additional 922 shares during the last quarter. US Bancorp DE increased its stake in IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after acquiring an additional 689 shares during the period. KBC Group NV increased its stake in IDEAYA Biosciences by 29.1% in the third quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after acquiring an additional 513 shares during the period. Finally, Values First Advisors Inc. acquired a new stake in IDEAYA Biosciences during the 3rd quarter valued at $74,000. Institutional investors own 98.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Leerink Partnrs downgraded IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Oppenheimer reissued an “outperform” rating and set a $53.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Stephens began coverage on IDEAYA Biosciences in a report on Monday, November 18th. They issued an “overweight” rating and a $51.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a report on Wednesday. Two investment 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 stock. According to data from MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $53.67.

IDEAYA Biosciences Stock Down 2.4 %

Shares of IDEAYA Biosciences stock traded down $0.54 during trading hours on Friday, hitting $22.18. 528,239 shares of the company’s stock traded hands, compared to its average volume of 804,845. The stock has a 50 day simple moving average of $26.14 and a 200-day simple moving average of $32.24. The company has a market cap of $1.92 billion, a PE ratio of -9.52 and a beta of 0.82. IDEAYA Biosciences has a twelve month low of $22.10 and a twelve month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same period last year, the company earned ($0.46) earnings per share. As a group, equities research analysts predict that IDEAYA Biosciences will post -2.45 EPS for the current year.

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.