Short Interest in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Expands By 10.1%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 10,000,000 shares, an increase of 10.1% from the December 15th total of 9,080,000 shares. Approximately 12.9% of the company’s shares are short sold. Based on an average trading volume of 889,000 shares, the short-interest ratio is presently 11.2 days.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock traded down $0.54 during trading hours on Friday, hitting $22.18. 528,239 shares of the company were exchanged, compared to its average volume of 804,845. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -9.52 and a beta of 0.82. IDEAYA Biosciences has a one year low of $22.10 and a one year high of $47.74. The business’s 50-day simple moving average is $26.14 and its two-hundred day simple moving average is $32.24.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same period in the prior year, the company posted ($0.46) EPS. As a group, analysts anticipate that IDEAYA Biosciences will post -2.45 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of IDEAYA Biosciences by 12.1% in the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company’s stock worth $400,297,000 after buying an additional 1,365,570 shares during the last quarter. Janus Henderson Group PLC raised its stake in IDEAYA Biosciences by 26.7% during the third quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock worth $163,518,000 after acquiring an additional 1,086,356 shares during the period. State Street Corp lifted its holdings in IDEAYA Biosciences by 15.4% in the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after acquiring an additional 443,640 shares during the last quarter. Geode Capital Management LLC boosted its stake in IDEAYA Biosciences by 9.8% in the third quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company’s stock valued at $61,645,000 after acquiring an additional 172,838 shares during the period. Finally, Logos Global Management LP grew its holdings in shares of IDEAYA Biosciences by 13.3% during the second quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock valued at $59,687,000 after purchasing an additional 200,000 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

Analyst Ratings Changes

IDYA has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Stephens initiated coverage on shares of IDEAYA Biosciences in a research report on Monday, November 18th. They issued an “overweight” rating and a $51.00 price objective for the company. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $41.00 to $27.00 in a research report on Tuesday, November 5th. Leerink Partnrs lowered shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, UBS Group began coverage on shares of IDEAYA Biosciences in a research note on Thursday, October 24th. They set a “buy” rating and a $50.00 price target on the stock. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $53.67.

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.