Why Ideaya Biosciences Is Trading Higher Today

Ideaya Biosciences IDYA shares are trading higher on Wednesday after Wedbush initiated coverage on the stock with an Outperform rating and announced a price target of $21 per share.

Ideaya Biosciences an oncology-focused precision medicine company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. It's engaged in applying capabilities across multiple classes of precision medicine, including direct targeting of oncogenic pathways and synthetic lethality. The company's product candidate IDE196 is a protein kinase C, or PKC, inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.

Ideaya Biosciences shares traded up 7.57% to $14.07 on Wednesday. The stock has a 52-week high of $19.97 and a 52-week low of $2.95.

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