IDEAYA Biosciences (NASDAQ:IDYA) Short Interest Up 5.0% in May

IDEAYA Biosciences (NASDAQ:IDYA) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 227,100 shares, a growth of 5.0% from the April 30th total of 216,200 shares. Based on an average trading volume of 45,800 shares, the short-interest ratio is currently 5.0 days. Approximately 3.0% of the shares of the company are sold short.

Shares of IDYA traded down $0.27 during trading hours on Friday, reaching $7.28. The company had a trading volume of 19,500 shares, compared to its average volume of 47,429. The firm has a 50 day simple moving average of $5.47 and a 200-day simple moving average of $6.83. The company has a current ratio of 12.18, a quick ratio of 12.18 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $154.02 million and a price-to-earnings ratio of -2.46. IDEAYA Biosciences has a 12-month low of $2.95 and a 12-month high of $16.90.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.02). Sell-side analysts forecast that IDEAYA Biosciences will post -2.39 earnings per share for the current year.

Several analysts have recently commented on the stock. HC Wainwright assumed coverage on shares of IDEAYA Biosciences in a research note on Monday, April 6th. They issued a “buy” rating and a $13.00 target price for the company. Zacks Investment Research upgraded shares of IDEAYA Biosciences from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research note on Wednesday. Oppenheimer assumed coverage on shares of IDEAYA Biosciences in a research note on Tuesday, May 12th. They issued a “buy” rating and a $17.00 target price for the company. Roth Capital assumed coverage on shares of IDEAYA Biosciences in a research note on Friday, March 13th. They issued a “buy” rating and a $12.00 target price for the company. Finally, ValuEngine upgraded shares of IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. IDEAYA Biosciences currently has an average rating of “Buy” and a consensus price target of $16.16.

Large investors have recently bought and sold shares of the business. Alambic Investment Management L.P. purchased a new position in IDEAYA Biosciences during the 4th quarter valued at about $148,000. Jacobs Levy Equity Management Inc. purchased a new position in IDEAYA Biosciences during the 4th quarter valued at about $151,000. BlackRock Inc. increased its holdings in IDEAYA Biosciences by 234.0% during the 1st quarter. BlackRock Inc. now owns 38,218 shares of the company’s stock valued at $158,000 after acquiring an additional 26,774 shares in the last quarter. Canaan Partners X LLC purchased a new position in IDEAYA Biosciences during the 4th quarter valued at about $19,955,000. Finally, 5AM Venture Management LLC purchased a new position in IDEAYA Biosciences during the 4th quarter valued at about $25,973,000. Hedge funds and other institutional investors own 51.02% of the company’s stock.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc, an oncology-focused precision medicine company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's product candidate in clinical development is IDE196, a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.

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