IDEAYA Biosciences (NASDAQ:IDYA) Shares Down 6.1% – Should You Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) traded down 6.1% on Monday . The stock traded as low as $30.20 and last traded at $30.7380. 283,778 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 891,982 shares. The stock had previously closed at $32.75.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IDYA shares. Guggenheim reissued a “buy” rating and set a $50.00 price target on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Truist Financial lifted their price objective on shares of IDEAYA Biosciences from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Wall Street Zen lowered shares of IDEAYA Biosciences from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, Citigroup lifted their price target on IDEAYA Biosciences from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.69.

IDEAYA Biosciences Price Performance

The firm’s fifty day moving average is $33.50 and its two-hundred day moving average is $31.86. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -24.58 and a beta of 0.09.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.09. The company had revenue of $21.75 million for the quarter, compared to analyst estimates of $5.95 million. During the same period in the previous year, the business posted ($1.49) EPS. The firm’s quarterly revenue was up 55.7% on a year-over-year basis. On average, equities analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In related news, Director Jeffrey Stein acquired 50,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of $32.96 per share, for a total transaction of $1,648,000.00. Following the completion of the purchase, the director directly owned 54,281 shares of the company’s stock, valued at $1,789,101.76. The trade was a 1,167.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDYA. Arizona State Retirement System raised its stake in shares of IDEAYA Biosciences by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 23,324 shares of the company’s stock worth $635,000 after buying an additional 353 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its position in IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after acquiring an additional 380 shares in the last quarter. Daiwa Securities Group Inc. raised its position in IDEAYA Biosciences by 16.1% in the second 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. Russell Investments Group Ltd. lifted its holdings in IDEAYA Biosciences by 5.2% in the 4th quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock valued at $335,000 after acquiring an additional 476 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of IDEAYA Biosciences by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company’s stock valued at $106,000 after purchasing an additional 537 shares in the last quarter. 98.29% of the stock is owned by 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.