IDEAYA Biosciences (NASDAQ:IDYA) Stock Rating Lowered by Wall Street Zen

IDEAYA Biosciences (NASDAQ:IDYA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other brokerages have also commented on IDYA. Wedbush lifted their price target on shares of IDEAYA Biosciences from $52.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Royal Bank Of Canada lifted their price target on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Truist Financial set a $65.00 price target on shares of IDEAYA Biosciences in a report on Monday, April 13th. Mizuho cut their price target on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, Citigroup lifted their price target on shares of IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.69.

IDEAYA Biosciences Price Performance

Shares of IDEAYA Biosciences stock opened at $29.10 on Friday. IDEAYA Biosciences has a fifty-two week low of $18.25 and a fifty-two week high of $39.28. The firm has a market capitalization of $2.56 billion, a P/E ratio of -18.19 and a beta of -0.04. The company’s 50 day moving average price is $30.95 and its two-hundred day moving average price is $32.79.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The firm had revenue of $6.56 million for the quarter, compared to the consensus estimate of $5.04 million. The business’s revenue for the quarter was down 39.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.82) EPS. On average, analysts expect that IDEAYA Biosciences will post -4.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey Stein bought 50,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the completion of the purchase, the director directly owned 54,281 shares of the company’s stock, valued at approximately $1,789,101.76. This represents a 1,167.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 4.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds have recently bought and sold shares of IDYA. GSK plc bought a new position in IDEAYA Biosciences during the fourth quarter worth $46,093,000. Baker BROS. Advisors LP raised its stake in IDEAYA Biosciences by 54.6% during the third quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock worth $89,125,000 after buying an additional 1,156,716 shares during the last quarter. State Street Corp increased its stake in IDEAYA Biosciences by 27.6% in the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after purchasing an additional 893,707 shares in the last quarter. Janus Henderson Group PLC increased its stake in IDEAYA Biosciences by 11.8% in the fourth quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock valued at $248,344,000 after purchasing an additional 758,117 shares in the last quarter. Finally, First Turn Management LLC bought a new stake in IDEAYA Biosciences in the fourth quarter valued at $25,017,000. Institutional investors own 98.29% of the company’s stock.

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.