Short Interest in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Expands By 6.7%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 9,410,000 shares, an increase of 6.7% from the March 15th total of 8,820,000 shares. Approximately 14.3% of the shares of the company are short sold. Based on an average daily trading volume, of 905,000 shares, the short-interest ratio is presently 10.4 days.

Insider Buying and Selling

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $45.54, for a total value of $1,072,785.78. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $30,870,973.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Briseno Andres Ruiz sold 2,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $46.02, for a total value of $92,040.00. Following the completion of the transaction, the insider now owns 24,531 shares in the company, valued at approximately $1,128,916.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Yujiro S. Hata sold 23,557 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the completion of the transaction, the chief executive officer now owns 677,887 shares of the company’s stock, valued at approximately $30,870,973.98. The disclosure for this sale can be found here. In the last three months, insiders sold 27,557 shares of company stock valued at $1,248,886. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds have recently modified their holdings of the business. Walleye Capital LLC bought a new stake in IDEAYA Biosciences during the 3rd quarter worth approximately $2,265,000. Boone Capital Management LLC grew its stake in shares of IDEAYA Biosciences by 15.0% during the 3rd quarter. Boone Capital Management LLC now owns 570,682 shares of the company’s stock worth $15,397,000 after acquiring an additional 74,249 shares in the last quarter. Barclays PLC raised its holdings in shares of IDEAYA Biosciences by 17.8% in the third quarter. Barclays PLC now owns 86,326 shares of the company’s stock valued at $2,330,000 after purchasing an additional 13,049 shares during the last quarter. Eventide Asset Management LLC bought a new stake in shares of IDEAYA Biosciences in the third quarter worth $9,038,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in IDEAYA Biosciences by 405.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,453 shares of the company’s stock worth $265,000 after purchasing an additional 5,979 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IDYA. Royal Bank of Canada increased their price objective on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on shares of IDEAYA Biosciences from $51.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Leerink Partnrs restated an “outperform” rating on shares of IDEAYA Biosciences in a research report on Friday, February 23rd. Capital One Financial reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group increased their price objective on IDEAYA Biosciences from $36.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $44.55.

IDEAYA Biosciences Price Performance

IDYA traded down $0.59 during mid-day trading on Wednesday, hitting $40.58. The stock had a trading volume of 116,336 shares, compared to its average volume of 852,368. The stock’s fifty day simple moving average is $44.25 and its 200-day simple moving average is $36.91. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -20.57 and a beta of 0.80. IDEAYA Biosciences has a 1-year low of $14.33 and a 1-year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). The firm had revenue of $3.90 million during the quarter, compared to the consensus estimate of $8.84 million. IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 23.00%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, research analysts expect that IDEAYA Biosciences will post -2.26 earnings per share for the current fiscal year.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.