Wall Street Zen Downgrades IDEAYA Biosciences (NASDAQ:IDYA) to Sell

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

A number of other equities research analysts also recently issued reports on IDYA. JPMorgan Chase & Co. boosted their price target on shares of IDEAYA Biosciences from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Barclays started coverage on shares of IDEAYA Biosciences in a research note on Thursday, September 4th. They issued an “overweight” rating and a $40.00 price target on the stock. TD Cowen started coverage on shares of IDEAYA Biosciences in a research note on Tuesday, July 22nd. They issued a “buy” rating on the stock. Citizens Jmp assumed coverage on shares of IDEAYA Biosciences in a research note on Thursday, September 4th. They issued a “mkt outperform” rating and a $41.00 price target on the stock. Finally, Oppenheimer set a $36.00 target price on shares of IDEAYA Biosciences and gave the stock an “outperform” rating in a research note on Monday, September 8th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.36.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $26.24 on Friday. The company’s 50 day simple moving average is $25.25 and its 200-day simple moving average is $21.83. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -6.92 and a beta of 0.14. IDEAYA Biosciences has a 1 year low of $13.45 and a 1 year high of $32.67.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.03). The firm had revenue of $6.00 million for the quarter, compared to analyst estimates of $3.48 million. The business’s revenue for the quarter was up NaN% on a year-over-year basis. During the same quarter last year, the business earned ($0.68) earnings per share. Equities analysts expect that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in IDEAYA Biosciences by 59.1% during the 2nd quarter. Osaic Holdings Inc. now owns 7,443 shares of the company’s stock worth $148,000 after acquiring an additional 2,764 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in IDEAYA Biosciences by 23.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 44,625 shares of the company’s stock worth $938,000 after acquiring an additional 8,514 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in IDEAYA Biosciences by 10.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 17,416 shares of the company’s stock worth $367,000 after acquiring an additional 1,609 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in IDEAYA Biosciences by 677.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,538 shares of the company’s stock worth $200,000 after acquiring an additional 8,311 shares in the last quarter. Finally, E Fund Management Co. Ltd. grew its holdings in IDEAYA Biosciences by 7.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company’s stock worth $257,000 after acquiring an additional 881 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.