Jennison Associates LLC Makes New Investment in IDEAYA Biosciences, Inc. $IDYA

Jennison Associates LLC bought a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 255,764 shares of the company’s stock, valued at approximately $8,522,000. Jennison Associates LLC owned approximately 0.29% of IDEAYA Biosciences as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of IDYA. Janus Henderson Group PLC lifted its position in shares of IDEAYA Biosciences by 11.8% during the 4th quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock worth $248,344,000 after buying an additional 758,117 shares during the last quarter. Vanguard Group Inc. raised its stake in IDEAYA Biosciences by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after acquiring an additional 97,116 shares in the last quarter. State Street Corp raised its stake in IDEAYA Biosciences by 27.6% during the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock worth $142,935,000 after acquiring an additional 893,707 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of IDEAYA Biosciences by 10.5% in the fourth quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company’s stock worth $125,103,000 after acquiring an additional 343,382 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of IDEAYA Biosciences by 32.6% in the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock worth $84,256,000 after acquiring an additional 599,295 shares during the last quarter. Institutional investors own 98.29% of the company’s stock.

Analyst Upgrades and Downgrades

IDYA has been the topic of several research reports. Truist Financial decreased their price target on shares of IDEAYA Biosciences from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Royal Bank Of Canada dropped their price objective on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Wells Fargo & Company boosted their target price on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Guggenheim upped their price target on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Mizuho dropped their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.25.

Insider Activity at IDEAYA Biosciences

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of IDEAYA Biosciences stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $382,095.50. Following the transaction, the chief accounting officer owned 26,466 shares in the company, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.70% of the company’s stock.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $35.99 on Wednesday. The company has a 50 day simple moving average of $32.57 and a 200 day simple moving average of $32.66. The firm has a market cap of $3.16 billion, a PE ratio of -22.49 and a beta of -0.09. IDEAYA Biosciences, Inc. has a 1 year low of $21.50 and a 1 year high of $40.58.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, May 5th. The company reported ($1.11) 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 analyst estimates of $5.04 million. During the same quarter in the previous year, the company posted ($0.82) EPS. IDEAYA Biosciences’s revenue for the quarter was down 39.4% compared to the same quarter last year. As a group, research analysts anticipate that IDEAYA Biosciences, Inc. will post -4.1 earnings per share for the current fiscal 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.