IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Up 6.1% – Should You Buy?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) traded up 6.1% during mid-day trading on Tuesday . The company traded as high as $20.00 and last traded at $19.19. 942,087 shares changed hands during trading, a decline of 6% from the average session volume of 1,001,376 shares. The stock had previously closed at $18.08.

Wall Street Analysts Forecast Growth

Separately, Stephens reissued an “overweight” rating and issued a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.27.

IDEAYA Biosciences Stock Up 8.6%

The business has a 50-day moving average price of $17.63 and a 200-day moving average price of $22.11. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -5.95 and a beta of 0.26.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.07). During the same quarter in the prior year, the firm posted ($0.53) earnings per share. On average, equities research analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in shares of IDEAYA Biosciences by 0.5% in the 4th quarter. Rhumbline Advisers now owns 113,561 shares of the company’s stock valued at $2,919,000 after acquiring an additional 585 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of IDEAYA Biosciences by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,483 shares of the company’s stock worth $123,000 after purchasing an additional 627 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in IDEAYA Biosciences by 44.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock valued at $72,000 after buying an additional 853 shares in the last quarter. Mariner LLC boosted its holdings in IDEAYA Biosciences by 9.8% in the 4th quarter. Mariner LLC now owns 9,775 shares of the company’s stock worth $251,000 after buying an additional 869 shares during the last quarter. Finally, Assetmark Inc. increased its stake in IDEAYA Biosciences by 2.5% during the 4th quarter. Assetmark Inc. now owns 45,269 shares of the company’s stock worth $1,163,000 after buying an additional 1,084 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.