Investors Purchase Large Volume of Call Options on IDEAYA Biosciences (NASDAQ:IDYA)

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the target of some unusual options trading on Monday. Traders acquired 24,287 call options on the company. This represents an increase of approximately 2,391% compared to the average volume of 975 call options.

IDEAYA Biosciences Stock Down 1.3%

Shares of IDYA stock traded down $0.42 during mid-day trading on Monday, reaching $32.32. 260,797 shares of the stock traded hands, compared to its average volume of 906,221. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -24.60 and a beta of 0.02. The stock’s fifty day simple moving average is $32.68 and its two-hundred day simple moving average is $32.35. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.09. The business had revenue of $21.75 million during the quarter, compared to the consensus estimate of $5.95 million. During the same quarter last year, the business earned ($1.49) EPS. The firm’s quarterly revenue was up 55.7% compared to the same quarter last year. On average, equities research analysts anticipate that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey Stein acquired 50,000 shares of IDEAYA Biosciences stock in a transaction on Monday, March 2nd. The shares were purchased at an average cost 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 approximately $1,789,101.76. This represents a 1,167.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its holdings in IDEAYA Biosciences by 11.8% during the 4th quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock worth $248,344,000 after buying an additional 758,117 shares during the period. Vanguard Group Inc. increased its stake in shares of IDEAYA Biosciences by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock valued at $173,518,000 after buying an additional 97,116 shares during the period. State Street Corp increased its stake in shares of IDEAYA Biosciences by 27.6% in the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after buying an additional 893,707 shares during the period. Baker BROS. Advisors LP raised its position in shares of IDEAYA Biosciences by 10.5% during the fourth quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company’s stock worth $125,103,000 after acquiring an additional 343,382 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of IDEAYA Biosciences by 32.6% during the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock worth $84,256,000 after acquiring an additional 599,295 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IDYA shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Citigroup upped their target price on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Wall Street Zen lowered IDEAYA Biosciences from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Thursday, January 22nd. Finally, UBS Group started coverage on shares of IDEAYA Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, IDEAYA Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.69.

About IDEAYA Biosciences

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.