IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has received a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $50.25.

Several brokerages have recently commented on IDYA. Wells Fargo & Company increased their target price on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. 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. Truist Financial reduced their price objective on shares of IDEAYA Biosciences from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Wedbush reiterated an “outperform” rating and issued a $58.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, June 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Tuesday, April 21st.

Insider Activity

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at $1,058,904.66. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in IDEAYA Biosciences by 171.1% in 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 period. ANTIPODES PARTNERS Ltd raised its stake in shares of IDEAYA Biosciences by 49.4% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after purchasing an additional 380 shares during the period. Global Retirement Partners LLC purchased a new position in shares of IDEAYA Biosciences in the 4th quarter worth about $61,000. Comerica Bank boosted its holdings in shares of IDEAYA Biosciences by 36.5% in the 4th quarter. Comerica Bank now owns 2,514 shares of the company’s stock worth $87,000 after buying an additional 672 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in IDEAYA Biosciences during the first quarter valued at about $84,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Trading Down 1.6%

Shares of IDEAYA Biosciences stock opened at $35.45 on Tuesday. The company has a market capitalization of $3.11 billion, a P/E ratio of -22.16 and a beta of -0.09. The stock has a fifty day simple moving average of $32.41 and a 200 day simple moving average of $32.65. IDEAYA Biosciences has a 12-month low of $21.33 and a 12-month high of $40.58.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The business had revenue of $6.56 million during the quarter, compared to analyst estimates of $5.04 million. The company’s quarterly revenue was down 39.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.82) EPS. On average, analysts predict that IDEAYA Biosciences will post -4.1 EPS for the current year.

About IDEAYA Biosciences

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.