IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Down to $20.73

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares gapped down prior to trading on Tuesday . The stock had previously closed at $20.73, but opened at $19.92. IDEAYA Biosciences shares last traded at $19.77, with a volume of 1,522 shares changing hands.

Several brokerages recently issued reports on IDYA. Guggenheim initiated coverage on shares of IDEAYA Biosciences in a report on Wednesday, March 17th. They issued a “buy” rating and a $32.00 price objective on the stock. Citigroup boosted their price target on shares of IDEAYA Biosciences from $20.00 to $33.00 in a research note on Wednesday, March 24th. Roth Capital upped their price target on IDEAYA Biosciences from $31.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, April 22nd. JPMorgan Chase & Co. upped their price target on IDEAYA Biosciences from $28.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 16th. Finally, HC Wainwright increased their price objective on IDEAYA Biosciences from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, April 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. IDEAYA Biosciences currently has an average rating of “Buy” and an average price target of $30.30.

The stock has a fifty day simple moving average of $21.30 and a 200-day simple moving average of $17.12. The stock has a market cap of $650.55 million, a P/E ratio of -11.03 and a beta of 2.11.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Monday, March 22nd. The company reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.12. The company had revenue of $10.57 million during the quarter, compared to the consensus estimate of $10.88 million. Analysts expect that IDEAYA Biosciences, Inc. will post -1.48 EPS for the current year.

In other news, SVP Michael P. Dillon sold 5,000 shares of IDEAYA Biosciences stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $20.74, for a total value of $103,700.00. Following the completion of the sale, the senior vice president now directly owns 103,789 shares in the company, valued at $2,152,583.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 20.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dorsey Wright & Associates grew its stake in shares of IDEAYA Biosciences by 134.9% in the first quarter. Dorsey Wright & Associates now owns 1,980 shares of the company’s stock worth $47,000 after purchasing an additional 1,137 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in IDEAYA Biosciences by 13.9% in the fourth quarter. State of Wisconsin Investment Board now owns 22,100 shares of the company’s stock valued at $309,000 after buying an additional 2,700 shares during the period. Citigroup Inc. raised its holdings in shares of IDEAYA Biosciences by 407.6% during the fourth quarter. Citigroup Inc. now owns 3,883 shares of the company’s stock valued at $54,000 after purchasing an additional 3,118 shares during the period. Rhumbline Advisers raised its holdings in shares of IDEAYA Biosciences by 28.2% during the fourth quarter. Rhumbline Advisers now owns 17,519 shares of the company’s stock valued at $245,000 after purchasing an additional 3,849 shares during the period. Finally, Strs Ohio raised its holdings in shares of IDEAYA Biosciences by 125.8% in the 1st quarter. Strs Ohio now owns 7,000 shares of the company’s stock worth $164,000 after acquiring an additional 3,900 shares during the last quarter. 62.27% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile (NASDAQ:IDYA)

IDEAYA Biosciences, Inc, an oncology-focused precision medicine company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's product candidate is IDE196, a protein kinase C inhibitor that is in Phase 1/2 clinical trial for genetically-defined cancers having GNAQ or GNA11 gene mutations.

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