IDEAYA Biosciences (NASDAQ:IDYA) Shares Down 4.5% – Should You Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price was down 4.5% during mid-day trading on Tuesday . The company traded as low as $31.67 and last traded at $32.0790. Approximately 138,543 shares traded hands during trading, a decline of 88% from the average daily volume of 1,120,850 shares. The stock had previously closed at $33.60.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IDYA shares. Royal Bank Of Canada lifted their target price on IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Wall Street Zen upgraded IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. UBS Group started coverage on IDEAYA Biosciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price target for the company. Wedbush increased their price target on IDEAYA Biosciences from $52.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Finally, The Goldman Sachs Group increased their price target on IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.44.

IDEAYA Biosciences Trading Down 0.5%

The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -24.18 and a beta of 0.02. The stock has a 50-day simple moving average of $32.39 and a 200 day simple moving average of $32.81.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.09. The business had revenue of $10.88 million for the quarter, compared to analyst estimates of $5.95 million. During the same quarter in the previous year, the business posted ($1.49) earnings per share. The company’s revenue was up 55.7% compared to the same quarter last year. Sell-side analysts expect that IDEAYA Biosciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEAYA Biosciences news, Director Jeffrey Stein acquired 50,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $32.96 per share, for a total transaction of $1,648,000.00. Following the transaction, the director owned 54,281 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently made changes to their positions in IDYA. Farther Finance Advisors LLC lifted its holdings in shares of IDEAYA Biosciences by 171.1% during the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after buying an additional 580 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of IDEAYA Biosciences during the 3rd quarter valued at about $38,000. ANTIPODES PARTNERS Ltd lifted its holdings in shares of IDEAYA Biosciences by 49.4% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after buying an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of IDEAYA Biosciences during the 3rd quarter valued at about $58,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the 4th quarter valued at about $61,000. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.