IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Up on Insider Buying Activity

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price gapped up prior to trading on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $33.04, but opened at $35.29. IDEAYA Biosciences shares last traded at $34.3330, with a volume of 235,847 shares.

Specifically, Director Jeffrey Stein bought 50,000 shares of IDEAYA Biosciences stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average cost of $32.96 per share, with a total value of $1,648,000.00. Following the purchase, the director owned 54,281 shares in the company, valued at approximately $1,789,101.76. This trade represents a 1,167.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

IDYA has been the topic of a number of research reports. Guggenheim restated a “buy” rating and issued a $50.00 price target on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. UBS Group initiated coverage on IDEAYA Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price on the stock. Wedbush raised their price target on shares of IDEAYA Biosciences from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Mizuho lifted their price objective on shares of IDEAYA Biosciences from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Wednesday, February 18th. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $48.69.

IDEAYA Biosciences Stock Performance

The company has a market cap of $3.05 billion, a P/E ratio of -26.47 and a beta of 0.09. The business’s 50-day moving average price is $33.95 and its 200 day moving average price is $31.07.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, February 17th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.09. The firm had revenue of $21.75 million during the quarter, compared to the consensus estimate of $5.95 million. During the same period in the previous year, the company posted ($1.49) earnings per share. The firm’s revenue for the quarter was up 55.7% compared to the same quarter last year. Equities research analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IDYA. Farther Finance Advisors LLC lifted its holdings in IDEAYA Biosciences by 171.1% during the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after purchasing an additional 580 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after purchasing an additional 380 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of IDEAYA Biosciences in the third quarter valued at about $38,000. Global Retirement Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the 4th quarter worth about $61,000. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of IDEAYA Biosciences during the 3rd quarter worth about $58,000. 98.29% of the stock is currently owned by institutional investors.

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.