IDEAYA Biosciences (NASDAQ:IDYA) Posts Earnings Results, Misses Estimates By $0.12 EPS

IDEAYA Biosciences (NASDAQ:IDYA) released its quarterly earnings results on Tuesday. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.12), FiscalAI reports. The company had revenue of $6.56 million for the quarter, compared to analysts’ expectations of $5.04 million. During the same period in the previous year, the company posted ($0.82) earnings per share. The company’s revenue for the quarter was down 39.4% compared to the same quarter last year.

IDEAYA Biosciences Stock Down 2.1%

Shares of NASDAQ IDYA traded down $0.59 during trading hours on Tuesday, hitting $28.31. 111,001 shares of the stock were exchanged, compared to its average volume of 1,106,514. The company has a market cap of $2.49 billion, a PE ratio of -21.74 and a beta of -0.04. The firm has a fifty day moving average price of $32.20 and a 200-day moving average price of $32.96. IDEAYA Biosciences has a 12 month low of $16.82 and a 12 month high of $39.28.

Insider Activity at IDEAYA Biosciences

In other news, Director Jeffrey Stein acquired 50,000 shares of IDEAYA Biosciences stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $32.96 per share, for a total transaction of $1,648,000.00. Following the purchase, the director directly owned 54,281 shares in the company, valued at $1,789,101.76. The trade was a 1,167.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Daiwa Securities Group Inc. raised its stake in shares of IDEAYA Biosciences by 16.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after acquiring an additional 436 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of IDEAYA Biosciences by 23.4% during the 4th quarter. Parallel Advisors LLC now owns 3,847 shares of the company’s stock worth $133,000 after acquiring an additional 730 shares in the last quarter. Xponance LLC bought a new position in shares of IDEAYA Biosciences during the 4th quarter worth approximately $218,000. Osaic Holdings Inc. raised its stake in shares of IDEAYA Biosciences by 59.1% during the 2nd quarter. Osaic Holdings Inc. now owns 7,443 shares of the company’s stock worth $148,000 after acquiring an additional 2,764 shares in the last quarter. Finally, Virtus Investment Advisers LLC raised its stake in shares of IDEAYA Biosciences by 53.1% during the 4th quarter. Virtus Investment Advisers LLC now owns 7,819 shares of the company’s stock worth $270,000 after acquiring an additional 2,712 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IDYA shares. Wall Street Zen raised shares of IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. The Goldman Sachs Group lifted their price target on shares of IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. UBS Group initiated coverage on shares of IDEAYA Biosciences in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.44.

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.