IDEAYA Biosciences (NASDAQ:IDYA) Posts Earnings Results, Misses Estimates By $0.10 EPS

IDEAYA Biosciences (NASDAQ:IDYA) released its earnings results on Tuesday. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.10), FiscalAI reports. The company had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $5.04 million. The company’s revenue was down 39.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.82) EPS.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock traded down $0.27 during midday trading on Wednesday, reaching $28.53. 180,250 shares of the company’s stock were exchanged, compared to its average volume of 1,101,889. IDEAYA Biosciences has a 52 week low of $16.82 and a 52 week high of $39.28. The stock’s 50-day simple moving average is $32.14 and its 200 day simple moving average is $32.96. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -21.84 and a beta of -0.04.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IDYA shares. Guggenheim raised their price target on IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Citigroup lifted their target price on IDEAYA Biosciences from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Royal Bank Of Canada lifted their target price on IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Wells Fargo & Company lifted their price target on IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Finally, Truist Financial set a $65.00 price target on IDEAYA Biosciences in a research report on Monday, April 13th. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.44.

Insider Buying and Selling

In related news, Director Jeffrey Stein acquired 50,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was bought at an average cost of $32.96 per share, with a total value of $1,648,000.00. Following the acquisition, the director owned 54,281 shares of the company’s stock, valued at approximately $1,789,101.76. The trade was a 1,167.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Large investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. boosted its stake in IDEAYA Biosciences by 16.1% during 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. Parallel Advisors LLC boosted its stake in IDEAYA Biosciences by 23.4% during the fourth quarter. Parallel Advisors LLC now owns 3,847 shares of the company’s stock worth $133,000 after acquiring an additional 730 shares in the last quarter. Osaic Holdings Inc. boosted its stake in IDEAYA Biosciences by 59.1% during the second quarter. Osaic Holdings Inc. now owns 7,443 shares of the company’s stock worth $148,000 after acquiring an additional 2,764 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in IDEAYA Biosciences by 677.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,538 shares of the company’s stock worth $200,000 after acquiring an additional 8,311 shares in the last quarter. Finally, Xponance LLC bought a new position in shares of IDEAYA Biosciences in the fourth quarter worth approximately $218,000. Institutional investors own 98.29% of the company’s stock.

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.