This trade activity should not be overlooked: IDEAYA Biosciences Inc. (IDYA)

IDEAYA Biosciences Inc. (NASDAQ: IDYA) stock fell -7.15% on Monday to $16.37 against a previous-day closing price of $17.63. With 0.8 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.44 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $17.64 whereas the lowest price it dropped to was $16.31. The 52-week range on IDYA shows that it touched its highest point at $19.14 and its lowest point at $8.14 during that stretch. It currently has a 1-year price target of $25.11. Beta for the stock currently stands at 0.94.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IDYA was down-trending over the past week, with a drop of -12.55%, but this was down by -1.44% over a month. Three-month performance surged to 3.41% while six-month performance rose 9.94%. The stock gained 5.34% in the past year, while it has lost -9.91% so far this year. A look at the trailing 12-month EPS for IDYA yields -1.37 with Next year EPS estimates of -2.54. For the next quarter, that number is -0.56. This implies an EPS growth rate of -1.20% for this year and -74.00% for next year.

Float and Shares Shorts:

At present, 48.11 million IDYA shares are outstanding with a float of 47.23 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.79 million, which was 9.96% higher than short shares on Sep 14, 2022. In addition to Mr. Yujiro S. Hata as the firm’s Co-Founder, CEO, Pres & Director, Mr. Paul A. Stone serves as its Sr. VP, CFO & Principal Accounting Officer.

Institutional Ownership:

Through their ownership of 74.28% of IDYA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.57% of IDYA, in contrast to 50.27% held by mutual funds. Shares owned by individuals account for 31.42%. As the largest shareholder in IDYA with 8.59% of the stake, Logos Global Management LP holds 4,135,000 shares worth 4,135,000. A second-largest stockholder of IDYA, Avidity Partners Management LP, holds 3,715,400 shares, controlling over 7.72% of the firm’s shares. BVF Partners LP is the third largest shareholder in IDYA, holding 3,294,859 shares or 6.85% stake. With a 3.34% stake in IDYA, the Federated Hermes Kaufmann Small C is the largest stakeholder. A total of 1,607,500 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 3.15% of IDYA stock, is the second-largest Mutual Fund holder. It holds 1,513,727 shares valued at 27.5 million. Vanguard Total Stock Market Index holds 2.99% of the stake in IDYA, owning 1,438,344 shares worth 26.13 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IDYA since 8 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With IDYA analysts setting a high price target of $32.00 and a low target of $17.00, the average target price over the next 12 months is $25.75. Based on these targets, IDYA could surge 95.48% to reach the target high and rise by 3.85% to reach the target low. Reaching the average price target will result in a growth of 57.3% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. IDYA will report FY 2022 earnings on 03/12/2024. Analysts have provided yearly estimates in a range of -$1.16 being high and -$1.62 being low. For IDYA, this leads to a yearly average estimate of -$1.43. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. IDEAYA Biosciences Inc. surprised analysts by $0.65 when it reported $0.04 EPS against a consensus estimate of -$0.61. The surprise factor in the prior quarter was -$0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.40 and the low estimate is -$0.73. The average estimate for the next quarter is thus -$0.56.

Summary of Insider Activity:

Insiders traded IDYA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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