IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Given Consensus Rating of “Moderate Buy” by Brokerages

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $50.6875.

Several equities analysts have recently issued reports on IDYA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Tuesday, April 21st. Truist Financial set a $65.00 target price on IDEAYA Biosciences in a report on Monday, April 13th. Wells Fargo & Company boosted their target price on IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Royal Bank Of Canada increased their price target on IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Finally, The Goldman Sachs Group raised their price target on IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA opened at $28.90 on Thursday. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -18.06 and a beta of -0.04. The firm’s 50 day simple moving average is $31.69 and its 200 day simple moving average is $32.94. IDEAYA Biosciences has a fifty-two week low of $16.84 and a fifty-two week high of $39.28.

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

Insider Buying and Selling

In related news, Director Jeffrey Stein acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average cost of $32.96 per share, for a total transaction of $1,648,000.00. Following the completion of the acquisition, the director directly owned 54,281 shares in the company, valued at approximately $1,789,101.76. The trade was a 1,167.95% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of large investors have recently modified their holdings of IDYA. Farther Finance Advisors LLC increased its position in shares of IDEAYA Biosciences by 171.1% in the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after acquiring an additional 580 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in IDEAYA Biosciences in the third quarter valued at approximately $38,000. ANTIPODES PARTNERS Ltd grew its stake in 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 in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of IDEAYA Biosciences during the 3rd quarter worth approximately $58,000. Finally, Global Retirement Partners LLC bought a new stake in shares of IDEAYA Biosciences during the 4th quarter worth approximately $61,000. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.