IDEAYA Biosciences, Inc. $IDYA Shares Sold by Redmile Group LLC

Redmile Group LLC decreased its position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 29.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,117 shares of the company’s stock after selling 220,900 shares during the quarter. IDEAYA Biosciences accounts for about 1.1% of Redmile Group LLC’s holdings, making the stock its 14th biggest position. Redmile Group LLC’s holdings in IDEAYA Biosciences were worth $17,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada increased its stake in IDEAYA Biosciences by 30.1% in the 1st quarter. Royal Bank of Canada now owns 122,460 shares of the company’s stock valued at $2,006,000 after purchasing an additional 28,322 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in IDEAYA Biosciences by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company’s stock valued at $938,000 after purchasing an additional 4,308 shares during the last quarter. Millennium Management LLC grew its holdings in IDEAYA Biosciences by 345.2% in the first quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock valued at $8,970,000 after purchasing an additional 424,625 shares during the last quarter. American Century Companies Inc. increased its position in shares of IDEAYA Biosciences by 862.7% in the second quarter. American Century Companies Inc. now owns 114,644 shares of the company’s stock valued at $2,410,000 after buying an additional 102,736 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of IDEAYA Biosciences in the second quarter valued at $643,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA opened at $36.16 on Wednesday. The firm has a market cap of $3.18 billion, a PE ratio of -22.60 and a beta of -0.09. The firm has a 50 day simple moving average of $33.31 and a 200-day simple moving average of $32.67. IDEAYA Biosciences, Inc. has a 1-year low of $22.09 and a 1-year high of $40.58.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. The business’s revenue was down 39.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.82) EPS. As a group, sell-side analysts expect that IDEAYA Biosciences, Inc. will post -4.1 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $382,095.50. Following the sale, the chief accounting officer owned 26,466 shares in the company, valued at $1,058,904.66. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IDYA has been the topic of several recent research reports. Citigroup reiterated a “market outperform” rating on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. Mizuho cut their target price on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Truist Financial lowered their price target on shares of IDEAYA Biosciences from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Wedbush restated an “outperform” rating and set a $58.00 price objective on shares of IDEAYA Biosciences in a research report on Friday, June 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.25.

IDEAYA Biosciences Company Profile

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.