IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $50.6875.

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Tuesday, April 21st. Guggenheim boosted their target price on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Wells Fargo & Company upped their price target on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Wall Street Zen raised shares of IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Citigroup boosted their price objective on shares of IDEAYA Biosciences from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 19th.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $28.13 on Thursday. The firm has a market capitalization of $2.47 billion, a P/E ratio of -17.58 and a beta of -0.04. IDEAYA Biosciences has a 1-year low of $16.84 and a 1-year high of $39.28. The company’s 50-day moving average is $31.85 and its 200 day moving average is $32.94.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The business had revenue of $6.56 million during the quarter, compared to analyst estimates of $5.04 million. During the same period in the previous year, the business earned ($0.82) EPS. IDEAYA Biosciences’s revenue for the quarter was down 39.4% on a year-over-year basis. Research analysts anticipate that IDEAYA Biosciences will post -4.28 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, Director Jeffrey Stein purchased 50,000 shares of the 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 completion of the acquisition, the director owned 54,281 shares of the company’s stock, valued at approximately $1,789,101.76. This trade represents a 1,167.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds have recently made changes to their positions in the company. Iron Triangle Partners LP bought a new stake in shares of IDEAYA Biosciences in the third quarter valued at about $7,347,000. General American Investors Co. Inc. increased its position in IDEAYA Biosciences by 7.7% during the 3rd quarter. General American Investors Co. Inc. now owns 280,261 shares of the company’s stock valued at $7,626,000 after purchasing an additional 20,000 shares during the period. Candriam S.C.A. raised its holdings in shares of IDEAYA Biosciences by 10.8% in the 3rd quarter. Candriam S.C.A. now owns 1,012,967 shares of the company’s stock valued at $27,563,000 after purchasing an additional 98,567 shares in the last quarter. Cinctive Capital Management LP lifted its position in shares of IDEAYA Biosciences by 193.9% in the 3rd quarter. Cinctive Capital Management LP now owns 49,946 shares of the company’s stock worth $1,359,000 after purchasing an additional 32,953 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of IDEAYA Biosciences by 174.0% during the third quarter. Envestnet Asset Management Inc. now owns 299,032 shares of the company’s stock valued at $8,137,000 after purchasing an additional 189,877 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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.