Ideaya Biosciences Inc (NASDAQ: IDYA) stock jumped 1.44% on Friday to $30.37 against a previous-day closing price of $29.94. With 1.17 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.73 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $30.76 whereas the lowest price it dropped to was $29.77. The 52-week range on IDYA shows that it touched its highest point at $31.23 and its lowest point at $13.29 during that stretch. It currently has a 1-year price target of $37.17. Beta for the stock currently stands at 0.78.
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 up-trending over the past week, with a rise of 3.33%, but this was up by 17.12% over a month. Three-month performance surged to 12.82% while six-month performance rose 39.50%. The stock gained 71.20% in the past year, while it has gained 67.14% so far this year. A look at the trailing 12-month EPS for IDYA yields -1.95 with Next year EPS estimates of -2.38. For the next quarter, that number is -0.53. This implies an EPS growth rate of -37.89% for this year and -21.43% for next year.
Float and Shares Shorts:
At present, 62.44 million IDYA shares are outstanding with a float of 53.81 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.74 million, which was 12.05% higher than short shares on Sep 28, 2023. In addition to Mr. Yujiro S. Hata as the firm’s Co-Founder, President, CEO & Director, Dr. Michael A. White Ph.D. serves as its Chief Scientific Officer.
Through their ownership of 83.48% of IDYA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.20% of IDYA, in contrast to 44.89% held by mutual funds. Shares owned by individuals account for 36.24%. As the largest shareholder in IDYA with 8.20% of the stake, BVF Partners LP holds 5,283,489 shares worth 5,283,489. A second-largest stockholder of IDYA, BlackRock Fund Advisors, holds 4,002,848 shares, controlling over 6.21% of the firm’s shares. Federated Global Investment Manag is the third largest shareholder in IDYA, holding 3,383,600 shares or 5.25% stake. With a 2.90% stake in IDYA, the Federated Hermes Kaufmann Small C is the largest stakeholder. A total of 1,870,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.88% of IDYA stock, is the second-largest Mutual Fund holder. It holds 1,857,967 shares valued at 50.48 million. T Rowe Price New Horizons Fund holds 2.47% of the stake in IDYA, owning 1,589,963 shares worth 43.2 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IDYA since 0 analysts follow the stock currently. 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 $44.00 and a low target of $30.00, the average target price over the next 12 months is $37.17. Based on these targets, IDYA could surge 44.88% to reach the target high and fall by -1.22% to reach the target low. Reaching the average price target will result in a growth of 22.39% from current levels.
Summary of Insider Activity:
Insiders traded IDYA stock several times over the past three months with 3 Buys and 7 Sells. In these transactions, 4,837 shares were bought while 12,815 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 43,408 while 38,307 shares were sold.