IDEAYA Biosciences Target of Unusually High Options Trading (NASDAQ:IDYA)

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 9,011 call options on the stock. This represents an increase of approximately 2,681% compared to the average daily volume of 324 call options.

Analyst Upgrades and Downgrades

IDYA has been the subject of several research analyst reports. Mizuho upped their price objective on shares of IDEAYA Biosciences from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Truist Financial set a $59.00 price target on IDEAYA Biosciences in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Wednesday, October 8th. Barclays began coverage on shares of IDEAYA Biosciences in a research report on Thursday, September 4th. They set an “overweight” rating and a $40.00 target price on the stock. Finally, Royal Bank Of Canada increased their price objective on IDEAYA Biosciences from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, IDEAYA Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ:IDYA traded down $0.36 during trading on Tuesday, reaching $34.48. 506,217 shares of the stock were exchanged, compared to its average volume of 1,137,066. IDEAYA Biosciences has a 12-month low of $13.45 and a 12-month high of $37.08. The firm’s 50-day moving average price is $33.13 and its 200 day moving average price is $27.46. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -18.54 and a beta of 0.04.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $1.45. The company had revenue of $207.83 million during the quarter, compared to analyst estimates of $59.98 million. As a group, equities research analysts forecast that IDEAYA Biosciences will post -3.07 EPS for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently modified their holdings of the stock. Arizona State Retirement System grew its holdings in IDEAYA Biosciences by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 23,324 shares of the company’s stock worth $635,000 after acquiring an additional 353 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in IDEAYA Biosciences by 16.1% during the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after buying an additional 436 shares in the last quarter. PNC Financial Services Group Inc. raised its position in IDEAYA Biosciences by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company’s stock worth $106,000 after purchasing an additional 537 shares during the last quarter. CWM LLC lifted its stake in shares of IDEAYA Biosciences by 33.0% in the 2nd quarter. CWM LLC now owns 3,153 shares of the company’s stock valued at $66,000 after purchasing an additional 782 shares during the period. Finally, E Fund Management Co. Ltd. boosted its position in shares of IDEAYA Biosciences by 7.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company’s stock valued at $257,000 after purchasing an additional 881 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.