IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Shares Acquired by Covestor Ltd

Covestor Ltd lifted its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 23,050.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 926 shares of the company’s stock after acquiring an additional 922 shares during the quarter. Covestor Ltd’s holdings in IDEAYA Biosciences were worth $29,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its holdings in IDEAYA Biosciences by 5.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock valued at $288,000 after purchasing an additional 332 shares in the last quarter. Amalgamated Bank increased its position in shares of IDEAYA Biosciences by 22.9% during the third quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock valued at $90,000 after acquiring an additional 530 shares during the last quarter. US Bancorp DE boosted its stake in shares of IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after purchasing an additional 689 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in IDEAYA Biosciences by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock worth $94,000 after acquiring an additional 796 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in IDEAYA Biosciences by 800.0% in the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after acquiring an additional 800 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IDYA. Leerink Partnrs cut shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Cantor Fitzgerald initiated coverage on IDEAYA Biosciences in a research note on Tuesday, October 15th. They set an “overweight” rating for the company. Oppenheimer reiterated an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Finally, Leerink Partners cut IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $41.00 to $27.00 in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.91.

IDEAYA Biosciences Price Performance

IDYA stock opened at $26.64 on Friday. The business has a fifty day moving average price of $31.61 and a 200 day moving average price of $36.46. IDEAYA Biosciences, Inc. has a fifty-two week low of $26.41 and a fifty-two week high of $47.74. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -11.74 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period last year, the firm earned ($0.46) earnings per share. On average, equities analysts expect that IDEAYA Biosciences, Inc. will post -2.46 earnings per share for the current fiscal year.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.