IDEAYA Biosciences (NASDAQ:IDYA) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of IDEAYA Biosciences (NASDAQ:IDYA) from a hold rating to a sell rating in a report released on Saturday.

A number of other equities research analysts have also recently weighed in on the company. Mizuho reduced their price objective on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Citigroup reiterated a “market outperform” rating on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. Wedbush increased their price target on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada lowered their price objective on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.12.

IDEAYA Biosciences Stock Performance

IDYA opened at $36.30 on Friday. The business’s 50-day simple moving average is $35.19 and its 200-day simple moving average is $32.71. IDEAYA Biosciences has a one year low of $23.23 and a one year high of $40.58. The stock has a market capitalization of $3.19 billion, a P/E ratio of -18.71 and a beta of -0.10.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). The firm had revenue of $8.86 million during the quarter, compared to analyst estimates of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The firm’s revenue for the quarter was up 8800.0% compared to the same quarter last year. During the same period last year, the company earned ($0.88) earnings per share. On average, equities research analysts forecast that IDEAYA Biosciences will post -4.38 EPS for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the transaction, the chief accounting officer owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new position in IDEAYA Biosciences during the 4th quarter worth approximately $868,000. Profund Advisors LLC lifted its holdings in shares of IDEAYA Biosciences by 127.7% in the 4th quarter. Profund Advisors LLC now owns 47,115 shares of the company’s stock valued at $1,629,000 after buying an additional 26,424 shares during the period. Janus Henderson Group PLC boosted its stake in shares of IDEAYA Biosciences by 1.1% in the first quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company’s stock valued at $242,023,000 after buying an additional 78,797 shares in the last quarter. Seven Fleet Capital Management LP purchased a new stake in shares of IDEAYA Biosciences in the first quarter valued at approximately $2,875,000. Finally, Wesbanco Bank Inc. grew its holdings in IDEAYA Biosciences by 87.3% during the fourth quarter. Wesbanco Bank Inc. now owns 39,700 shares of the company’s stock worth $1,372,000 after acquiring an additional 18,500 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

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.