IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 52-Week Low – Should You Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price hit a new 52-week low on Friday . The stock traded as low as $22.14 and last traded at $22.15, with a volume of 301770 shares trading hands. The stock had previously closed at $22.72.

Analyst Upgrades and Downgrades

IDYA has been the topic of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Leerink Partnrs cut IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday. Stephens started coverage on shares of IDEAYA Biosciences in a research report on Monday, November 18th. They issued an “overweight” rating and a $51.00 price target on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Stock Down 2.4 %

The firm’s 50 day simple moving average is $26.32 and its 200 day simple moving average is $32.34. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -9.52 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period last year, the firm earned ($0.46) earnings per share. Analysts anticipate that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Institutional investors have recently bought and sold shares of the stock. KBC Group NV increased its stake in IDEAYA Biosciences by 29.1% during the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after buying an additional 513 shares during the period. Amalgamated Bank increased its stake in shares of IDEAYA Biosciences by 22.9% during the third quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock valued at $90,000 after acquiring an additional 530 shares during the period. US Bancorp DE increased its stake in shares of 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 acquiring an additional 689 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in IDEAYA Biosciences by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock worth $94,000 after purchasing an additional 796 shares in the last quarter. Finally, Allworth Financial LP lifted its position in IDEAYA Biosciences by 800.0% in the third 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. 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.