Short Interest in IDEAYA Biosciences (NASDAQ:IDYA) Declines By 24.6%
IDEAYA Biosciences (NASDAQ:IDYA) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 65,800 shares, a drop of 24.6% from the January 15th total of 87,300 shares. Based on an average daily volume of 47,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.7% of the company’s shares are sold short.
Several research analysts have commented on the company. Oppenheimer assumed coverage on IDEAYA Biosciences in a report on Thursday, October 17th. They set an “outperform” rating and a $17.00 price objective on the stock. Zacks Investment Research upgraded IDEAYA Biosciences from a “hold” rating to a “buy” rating and set a $9.75 price objective on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $17.63.
Shares of NASDAQ:IDYA traded down $0.24 on Friday, reaching $6.79. The company had a trading volume of 20,500 shares, compared to its average volume of 51,652. IDEAYA Biosciences has a 52-week low of $4.89 and a 52-week high of $16.90. The firm’s 50 day simple moving average is $8.71 and its 200-day simple moving average is $7.61. The company has a current ratio of 18.86, a quick ratio of 18.86 and a debt-to-equity ratio of 0.05.
Large investors have recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new position in IDEAYA Biosciences during the 3rd quarter worth $118,000. Point72 Asset Management L.P. grew its stake in IDEAYA Biosciences by 1.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 197,615 shares of the company’s stock worth $1,779,000 after buying an additional 2,048 shares during the last quarter. BlackRock Inc. purchased a new position in IDEAYA Biosciences during the 2nd quarter worth $82,000. Vanguard Group Inc. purchased a new position in IDEAYA Biosciences during the 2nd quarter worth $349,000. Finally, 5AM Venture Management LLC purchased a new position in IDEAYA Biosciences during the 4th quarter worth $25,973,000. Institutional investors and hedge funds own 36.79% of the company’s stock.
IDEAYA Biosciences Company Profile
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 in clinical development is IDE196, a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.
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