IDEAYA Biosciences (NASDAQ:IDYA) Hits New 52-Week Low – What’s Next?

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) hit a new 52-week low on Friday . The company traded as low as $22.14 and last traded at $22.15, with a volume of 301770 shares traded. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

IDYA has been the subject of several research reports. Wedbush reiterated an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. UBS Group assumed coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective for the company. Leerink Partnrs downgraded shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Finally, Oppenheimer reiterated an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.67.

IDEAYA Biosciences Price Performance

The company has a 50-day moving average price of $26.14 and a two-hundred day moving average price of $32.25.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IDYA. Allworth Financial LP grew its holdings 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 period. Covestor Ltd grew its stake in shares of IDEAYA Biosciences by 23,050.0% in the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after buying an additional 922 shares during the period. US Bancorp DE increased its position in IDEAYA Biosciences by 67.2% in the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after buying an additional 689 shares in the last quarter. KBC Group NV increased its position in IDEAYA Biosciences by 29.1% in the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after buying an additional 513 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in IDEAYA Biosciences during the 3rd quarter worth approximately $74,000. Institutional investors and hedge funds 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.