Legal & General Group Plc Buys New Position in IDEAYA Biosciences, Inc. $IDYA

Legal & General Group Plc purchased a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the second quarter, HoldingsChannel reports. The institutional investor purchased 80,461 shares of the company’s stock, valued at approximately $2,999,000.

A number of other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in IDEAYA Biosciences during the second quarter valued at approximately $4,010,000. OMERS ADMINISTRATION Corp bought a new position in shares of IDEAYA Biosciences during the 2nd quarter valued at $764,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of IDEAYA Biosciences during the 2nd quarter valued at $3,359,000. Quantbot Technologies LP purchased a new position in IDEAYA Biosciences in the 2nd quarter worth $43,000. Finally, E Fund Management Co. Ltd. purchased a new position in IDEAYA Biosciences in the 2nd quarter worth $337,000. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Trading Down 0.3%

IDEAYA Biosciences stock opened at $39.86 on Friday. The firm has a market cap of $3.50 billion, a P/E ratio of -20.55 and a beta of -0.07. IDEAYA Biosciences, Inc. has a 1-year low of $23.23 and a 1-year high of $42.68. The firm has a 50-day moving average of $37.60 and a 200-day moving average of $33.45.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly 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 business had revenue of $8.86 million for 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 firm’s revenue for the quarter was up 8800.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.88) EPS. Research analysts forecast that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank Of Canada cut their price target on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Jefferies Financial Group restated a “buy” rating on shares of IDEAYA Biosciences in a report on Tuesday. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a research report on Tuesday. Wall Street Zen cut IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Friday, July 17th. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.87.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CAO Andres Ruiz Briseno sold 9,550 shares of the business’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 transaction of $382,095.50. Following the transaction, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

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.