Short Interest in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Increases By 6.7%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 9,410,000 shares, an increase of 6.7% from the March 15th total of 8,820,000 shares. Currently, 14.3% of the shares of the company are sold short. Based on an average daily volume of 905,000 shares, the short-interest ratio is presently 10.4 days.

IDEAYA Biosciences Trading Down 2.4 %

Shares of NASDAQ:IDYA opened at $40.17 on Thursday. The stock’s 50-day moving average price is $44.19 and its 200-day moving average price is $36.93. IDEAYA Biosciences has a 12-month low of $14.33 and a 12-month high of $47.74. The stock has a market capitalization of $3.00 billion, a P/E ratio of -20.39 and a beta of 0.80.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 23.00%. The company had revenue of $3.90 million for the quarter, compared to the consensus estimate of $8.84 million. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, research analysts predict that IDEAYA Biosciences will post -2.26 EPS for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at $30,870,973.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at $30,870,973.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Briseno Andres Ruiz sold 2,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $46.02, for a total value of $92,040.00. Following the transaction, the insider now directly owns 24,531 shares of the company’s stock, valued at $1,128,916.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,557 shares of company stock valued at $1,248,886. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of IDEAYA Biosciences by 22.7% in the second quarter. BlackRock Inc. now owns 4,355,696 shares of the company’s stock worth $102,359,000 after purchasing an additional 806,603 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of IDEAYA Biosciences by 14.8% in the fourth quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock worth $138,185,000 after purchasing an additional 500,046 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of IDEAYA Biosciences by 17.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock worth $126,889,000 after purchasing an additional 535,909 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of IDEAYA Biosciences by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 3,475,772 shares of the company’s stock worth $123,668,000 after purchasing an additional 504,275 shares during the last quarter. Finally, State Street Corp grew its stake in shares of IDEAYA Biosciences by 1.1% in the second quarter. State Street Corp now owns 2,138,503 shares of the company’s stock worth $50,255,000 after purchasing an additional 24,186 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IDYA has been the topic of several recent research reports. BTIG Research initiated coverage on IDEAYA Biosciences in a research report on Friday, March 8th. They set a “buy” rating and a $55.00 target price on the stock. Leerink Partnrs restated an “outperform” rating on shares of IDEAYA Biosciences in a research report on Friday, February 23rd. Citigroup increased their price objective on IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Capital One Financial reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. increased their price objective on IDEAYA Biosciences from $51.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $44.55.

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.