IDEAYA Biosciences (NASDAQ:IDYA) Issues Earnings Results, Beats Estimates By $0.09 EPS

IDEAYA Biosciences (NASDAQ:IDYA) announced its quarterly earnings data on Tuesday. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.09, FiscalAI reports. The firm had revenue of $10.88 million for the quarter, compared to analyst estimates of $5.95 million.

IDEAYA Biosciences Stock Down 4.0%

IDYA stock opened at $30.27 on Tuesday. IDEAYA Biosciences has a 12-month low of $13.45 and a 12-month high of $39.28. The company’s fifty day simple moving average is $34.37 and its 200 day simple moving average is $30.39. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -16.27 and a beta of 0.10.

Wall Street Analyst Weigh In

IDYA has been the subject of several recent analyst reports. Wall Street Zen upgraded IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. The Goldman Sachs Group lifted their price target on shares of IDEAYA Biosciences from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Royal Bank Of Canada raised their target price on shares of IDEAYA Biosciences from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. New Street Research set a $30.00 price target on IDEAYA Biosciences in a research note on Tuesday, October 21st. Finally, Mizuho upped their target price on IDEAYA Biosciences from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Fifteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.60.

Institutional Trading of IDEAYA Biosciences

Several hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. lifted its position 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 valued at $66,000 after acquiring an additional 436 shares during the period. Parallel Advisors LLC increased its stake in IDEAYA Biosciences by 23.4% in the fourth quarter. Parallel Advisors LLC now owns 3,847 shares of the company’s stock valued at $133,000 after purchasing an additional 730 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of IDEAYA Biosciences by 7.8% during the second 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 during the period. Mariner LLC boosted its position in shares of IDEAYA Biosciences by 12.7% during the 4th quarter. Mariner LLC now owns 10,772 shares of the company’s stock worth $372,000 after purchasing an additional 1,218 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of IDEAYA Biosciences by 1.5% in the 2nd quarter. California State Teachers Retirement System now owns 82,532 shares of the company’s stock valued at $1,735,000 after buying an additional 1,254 shares during the period. Institutional investors own 98.29% of the company’s stock.

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.