IDEAYA Biosciences (NASDAQ:IDYA) Shares Down 3.2%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) fell 3.2% during trading on Thursday . The company traded as low as $38.88 and last traded at $38.90. 88,103 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 847,028 shares. The stock had previously closed at $40.17.

Analyst Ratings Changes

A number of research firms recently commented on IDYA. The Goldman Sachs Group boosted their price target on IDEAYA Biosciences from $36.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada upped their price objective on IDEAYA Biosciences from $43.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Citigroup upped their price objective on IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. BTIG Research began coverage on IDEAYA Biosciences in a report on Friday, March 8th. They set a “buy” rating and a $55.00 price objective on the stock. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of IDEAYA Biosciences in a report on Friday, February 23rd. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $44.55.

IDEAYA Biosciences Price Performance

The company has a 50-day simple moving average of $43.87 and a 200 day simple moving average of $37.01.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). IDEAYA Biosciences had a negative return on equity of 23.00% and a negative net margin of 483.05%. The firm had revenue of $3.90 million for the quarter, compared to the consensus estimate of $8.84 million. IDEAYA Biosciences’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts expect that IDEAYA Biosciences, Inc. will post -2.26 earnings per share for the current fiscal year.

Insider Transactions at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 23,557 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the transaction, the chief executive officer now owns 677,887 shares of the company’s stock, valued at approximately $30,870,973.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Yujiro S. Hata sold 23,557 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $30,870,973.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Briseno Andres Ruiz sold 2,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $46.02, for a total value of $92,040.00. Following the sale, the insider now owns 24,531 shares of the company’s stock, valued at $1,128,916.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,557 shares of company stock valued at $1,248,886. 5.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in IDEAYA Biosciences by 22.7% in the second quarter. BlackRock Inc. now owns 4,355,696 shares of the company’s stock valued at $102,359,000 after buying an additional 806,603 shares during the last quarter. Capital Research Global Investors raised its stake in IDEAYA Biosciences by 43.6% in the fourth quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock valued at $70,337,000 after buying an additional 600,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in IDEAYA Biosciences by 17.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock valued at $126,889,000 after buying an additional 535,909 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of IDEAYA Biosciences by 1,611.9% in the fourth quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock valued at $19,202,000 after purchasing an additional 508,151 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of IDEAYA Biosciences by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 3,475,772 shares of the company’s stock valued at $123,668,000 after purchasing an additional 504,275 shares during the period. 98.29% of the stock is currently 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.