IDEAYA Biosciences (NASDAQ:IDYA) Sees Strong Trading Volume – Time to Buy?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares saw unusually-strong trading volume on Wednesday . Approximately 409,227 shares changed hands during trading, a decline of 53% from the previous session’s volume of 867,331 shares.The stock last traded at $26.64 and had previously closed at $26.78.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Cantor Fitzgerald initiated coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They set an “overweight” rating on the stock. Stephens began coverage on shares of IDEAYA Biosciences in a research note on Monday, November 18th. They issued an “overweight” rating and a $51.00 target price for the company. UBS Group assumed coverage on shares of IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Performance

The business’s 50-day moving average is $30.00 and its 200 day moving average is $35.54. The company has a market cap of $2.31 billion, a PE ratio of -11.44 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period in the prior year, the firm earned ($0.46) EPS. Equities research analysts anticipate that IDEAYA Biosciences, Inc. will post -2.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IDYA. Allworth Financial LP boosted its stake in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 800 shares during the period. Covestor Ltd lifted its holdings in shares of IDEAYA Biosciences by 23,050.0% during the third quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after purchasing an additional 922 shares during the period. Quest Partners LLC acquired a new position in shares of IDEAYA Biosciences in the 2nd quarter valued at about $41,000. US Bancorp DE grew its position in IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after buying an additional 689 shares during the period. Finally, Comerica Bank lifted its position in shares of IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after buying an additional 1,324 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

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.