IDEAYA Biosciences (NASDAQ:IDYA) Trading Down 6.1% – Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price fell 6.1% during trading on Thursday . The stock traded as low as $26.61 and last traded at $26.62. 273,356 shares were traded during mid-day trading, a decline of 68% from the average session volume of 867,246 shares. The stock had previously closed at $28.35.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IDYA. Stifel Nicolaus upped their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a research note on Monday, November 4th. Stephens began coverage on IDEAYA Biosciences in a research note on Monday, November 18th. They issued an “overweight” rating and a $51.00 price target for the company. Leerink Partners lowered IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $41.00 to $27.00 in a research note on Tuesday, November 5th. Finally, Citigroup cut their price target on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.67.

IDEAYA Biosciences Price Performance

The stock’s fifty day moving average is $29.18 and its 200 day moving average is $34.92.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the prior year, the company posted ($0.46) earnings per share. On average, research analysts expect that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

Institutional Trading of IDEAYA Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in IDEAYA Biosciences by 800.0% in the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 800 shares during the last quarter. Covestor Ltd lifted its stake in IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after purchasing an additional 922 shares during the last quarter. Quest Partners LLC bought a new stake in IDEAYA Biosciences in the second quarter worth about $41,000. US Bancorp DE raised its stake in shares of IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after acquiring an additional 689 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after acquiring an additional 1,324 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

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.