Great Lakes Advisors LLC Takes Position in IDEAYA Biosciences, Inc. $IDYA

Great Lakes Advisors LLC bought a new position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 87,747 shares of the company’s stock, valued at approximately $3,270,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IDYA. BlackRock Inc. acquired a new stake in IDEAYA Biosciences during the 2nd quarter worth approximately $331,452,000. Deutsche Bank AG acquired a new position in shares of IDEAYA Biosciences in the second quarter valued at approximately $3,498,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of IDEAYA Biosciences during the second quarter worth approximately $2,228,000. Bank of New York Mellon Corp purchased a new stake in shares of IDEAYA Biosciences during the second quarter worth approximately $9,884,000. Finally, State of Wyoming acquired a new stake in shares of IDEAYA Biosciences during the second quarter worth $145,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Briseno Andres Ruiz sold 9,550 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at $1,058,904.66. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IDYA has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Mizuho reduced 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 note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Finally, Citigroup reissued a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $50.12.

IDEAYA Biosciences Trading Up 0.6%

IDYA stock opened at $39.11 on Friday. The company’s 50-day moving average price is $35.92 and its 200 day moving average price is $32.83. IDEAYA Biosciences, Inc. has a 52 week low of $23.23 and a 52 week high of $40.58. The company has a market cap of $3.44 billion, a P/E ratio of -20.16 and a beta of -0.10.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). The company had revenue of $8.86 million during the quarter, compared to analysts’ expectations of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The company’s quarterly revenue was up 8800.0% on a year-over-year basis. During the same period last year, the business posted ($0.88) earnings per share. On average, equities research analysts expect that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current year.

IDEAYA Biosciences 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.