Capital Research Global Investors Decreases Stake in IDEAYA Biosciences, Inc. $IDYA

Capital Research Global Investors reduced its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 19.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,279,675 shares of the company’s stock after selling 1,273,016 shares during the period. Capital Research Global Investors owned approximately 0.06% of IDEAYA Biosciences worth $182,518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of IDEAYA Biosciences by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after buying an additional 97,116 shares in the last quarter. Baker BROS. Advisors LP lifted its stake in shares of IDEAYA Biosciences by 54.6% in the third quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock worth $89,125,000 after buying an additional 1,156,716 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of IDEAYA Biosciences by 20.0% in the third quarter. Fiera Capital Corp now owns 1,837,967 shares of the company’s stock worth $50,011,000 after buying an additional 305,698 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of IDEAYA Biosciences by 43.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,770,866 shares of the company’s stock worth $61,219,000 after buying an additional 537,753 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of IDEAYA Biosciences by 4.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,238,094 shares of the company’s stock worth $26,025,000 after buying an additional 50,000 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDYA has been the subject of several recent analyst reports. Truist Financial set a $65.00 price objective on shares of IDEAYA Biosciences in a research report on Monday, April 13th. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Tuesday, April 21st. Guggenheim raised their price objective on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Wedbush restated an “outperform” rating and set a $58.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.69.

IDEAYA Biosciences Trading Up 11.3%

IDEAYA Biosciences stock opened at $31.48 on Tuesday. IDEAYA Biosciences, Inc. has a 12-month low of $20.50 and a 12-month high of $39.28. The stock has a market cap of $2.77 billion, a P/E ratio of -19.68 and a beta of -0.04. The company has a 50-day moving average price of $30.18 and a 200 day moving average price of $32.62.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The company had revenue of $6.56 million for the quarter, compared to analysts’ expectations of $5.04 million. During the same period in the prior year, the firm posted ($0.82) EPS. The company’s revenue was down 39.4% compared to the same quarter last year. As a group, analysts forecast that IDEAYA Biosciences, Inc. will post -4.27 EPS for the current year.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.