IDEAYA Biosciences (NASDAQ:IDYA) Posts Earnings Results, Misses Expectations By $0.16 EPS

IDEAYA Biosciences (NASDAQ:IDYA) released its quarterly earnings results on Tuesday. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16), Zacks reports. The company’s quarterly revenue was up 8800.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.88) earnings per share.

IDEAYA Biosciences Stock Performance

IDYA traded up $0.28 during trading on Tuesday, reaching $35.68. The company’s stock had a trading volume of 140,002 shares, compared to its average volume of 1,104,007. IDEAYA Biosciences has a 52-week low of $22.09 and a 52-week high of $40.58. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -22.26 and a beta of -0.10. The company’s fifty day moving average price is $33.82 and its 200-day moving average price is $32.65.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the sale, the chief accounting officer owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.70% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. grew its position in shares of IDEAYA Biosciences by 16.1% in the 2nd 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 lifted 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 purchasing an additional 730 shares during the last quarter. Osaic Holdings Inc. increased 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 valued at $148,000 after purchasing an additional 2,764 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of 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 purchasing an additional 8,311 shares during the period. Finally, Xponance LLC acquired a new position in shares of IDEAYA Biosciences in the 4th quarter valued at about $218,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

Wall Street Analyst Weigh In

IDYA has been the subject of several research analyst reports. Truist Financial decreased their price objective on IDEAYA Biosciences from $65.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Wells Fargo & Company upped their price target on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. Citigroup reissued a “market outperform” rating on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $58.00 target price on shares of IDEAYA Biosciences in a report on Friday, June 12th. Fourteen 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.25.

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.