IDEAYA Biosciences (NASDAQ:IDYA) Stock Gets Price Target Trim from Guggenheim

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective reduced by Guggenheim from $57.00 to $52.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on IDYA. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Thursday, October 15th. Royal Bank Of Canada decreased their price target on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Citizens Jmp reissued a “market outperform” rating and issued a $42.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Finally, Jefferies Financial Group restated a “buy” rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 1st. Thirteen investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.00.

IDEAYA Biosciences Trading Up 1.9%

Shares of NASDAQ:IDYA traded up $0.59 during mid-day trading on Wednesday, reaching $31.24. The stock had a trading volume of 1,652,526 shares, compared to its average volume of 883,716. The firm has a market cap of $2.74 billion, a PE ratio of -6.96 and a beta of 0.08. The firm has a 50 day simple moving average of $36.28 and a two-hundred day simple moving average of $33.98. IDEAYA Biosciences has a twelve month low of $26.81 and a twelve month high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.18) by ($0.04). The firm had revenue of $10.24 million for the quarter, compared to the consensus estimate of $7.58 million. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 EPS. On average, equities analysts anticipate that IDEAYA Biosciences will post -4.62 EPS for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro Hata sold 26,338 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $37.41, for a total transaction of $985,304.58. Following the transaction, the chief executive officer owned 690,695 shares in the company, valued at $25,838,899.95. The trade was a 3.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.70% of the stock is owned by company insiders.

Institutional Trading of IDEAYA Biosciences

A number of large investors have recently bought and sold shares of IDYA. Sterling Capital Management LLC increased its stake in IDEAYA Biosciences by 20.5% during the 3rd quarter. Sterling Capital Management LLC now owns 1,873 shares of the company’s stock worth $72,000 after purchasing an additional 319 shares in the last quarter. Covestor Ltd lifted its stake in IDEAYA Biosciences by 21.1% in the third quarter. Covestor Ltd now owns 3,178 shares of the company’s stock valued at $122,000 after buying an additional 554 shares in the last quarter. Versant Capital Management Inc lifted its stake in IDEAYA Biosciences by 26.7% in the second quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock valued at $105,000 after buying an additional 596 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of IDEAYA Biosciences by 3.9% in the first quarter. Hsbc Holdings PLC now owns 19,258 shares of the company’s stock valued at $645,000 after buying an additional 725 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of IDEAYA Biosciences by 6.3% in the third quarter. ProShare Advisors LLC now owns 14,740 shares of the company’s stock valued at $566,000 after buying an additional 876 shares during the period. 98.29% of the stock is owned by institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.