IDEAYA Biosciences (NASDAQ:IDYA) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

IDEAYA Biosciences (NASDAQ:IDYA) issued its earnings results on Tuesday. The company reported ($0.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.09, FiscalAI reports. The business had revenue of $10.88 million during the quarter, compared to the consensus estimate of $5.95 million.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA opened at $30.27 on Tuesday. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $39.28. The company has a market cap of $2.65 billion, a PE ratio of -16.27 and a beta of 0.10. The firm has a 50-day moving average of $34.37 and a 200-day moving average of $30.39.

Institutional Trading of IDEAYA Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of IDEAYA Biosciences by 27.6% in the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after purchasing an additional 893,707 shares in the last quarter. Goldman Sachs Group Inc. raised its position in IDEAYA Biosciences by 43.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,770,866 shares of the company’s stock valued at $61,219,000 after buying an additional 537,753 shares during the last quarter. GSK plc purchased a new stake in IDEAYA Biosciences in the 4th quarter valued at $46,093,000. Adage Capital Partners GP L.L.C. lifted its stake in IDEAYA Biosciences by 4.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,238,094 shares of the company’s stock valued at $26,025,000 after acquiring an additional 50,000 shares in the last quarter. Finally, UBS Group AG boosted its holdings in IDEAYA Biosciences by 40.5% during the 3rd quarter. UBS Group AG now owns 1,056,577 shares of the company’s stock worth $28,749,000 after acquiring an additional 304,672 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of IDEAYA Biosciences from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Truist Financial raised their price target on shares of IDEAYA Biosciences from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. BTIG Research reiterated a “buy” rating and set a $62.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, October 21st. Wall Street Zen raised shares of IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, The Goldman Sachs Group boosted their target price on IDEAYA Biosciences from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $46.60.

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.