Tidal Investments LLC Grows Stake in IDEAYA Biosciences, Inc. $IDYA

Tidal Investments LLC increased its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 21.0% in the 2nd quarter, Holdings Channel reports. The firm owned 135,847 shares of the company’s stock after purchasing an additional 23,538 shares during the period. Tidal Investments LLC’s holdings in IDEAYA Biosciences were worth $5,063,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDYA. Quantbot Technologies LP acquired a new stake in IDEAYA Biosciences in the 2nd quarter worth about $43,000. Global Retirement Partners LLC acquired a new position in shares of IDEAYA Biosciences during the fourth quarter valued at approximately $61,000. Daiwa Securities Group Inc. raised its holdings in shares of IDEAYA Biosciences by 16.1% during the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after acquiring an additional 436 shares during the last quarter. Nykredit A S purchased a new position in shares of IDEAYA Biosciences in the second quarter valued at approximately $76,000. Finally, Fifth Third Bancorp purchased a new position in shares of IDEAYA Biosciences in the first quarter valued at approximately $84,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IDEAYA Biosciences

In other news, CAO Andres Ruiz Briseno sold 9,550 shares of IDEAYA Biosciences 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 transaction, the chief accounting officer owned 26,466 shares in the company, valued at $1,058,904.66. The trade was a 26.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IDYA shares. Wedbush boosted their price target on IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Citizens Jmp reaffirmed a “market outperform” rating and set a $42.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Thirteen equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.69.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA opened at $37.59 on Monday. IDEAYA Biosciences, Inc. has a one year low of $24.24 and a one year high of $42.68. The stock has a market cap of $3.30 billion, a PE ratio of -19.38 and a beta of -0.07. The stock has a 50 day moving average price of $37.73 and a 200 day moving average price of $33.71.

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

IDEAYA Biosciences Profile

IDEAYA Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for cancer. The company uses insights from tumor genetics and synthetic lethality—the targeting of vulnerabilities created by specific genetic alterations—to identify therapies intended for molecularly defined patient populations.

IDEAYA’s investigational pipeline includes darovasertib (IDE196), a protein kinase C inhibitor being studied in genetically defined cancers, including metastatic uveal melanoma associated with GNAQ or GNA11 mutations.