Principal Financial Group Inc. Sells 4,968 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Principal Financial Group Inc. decreased its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 39.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,720 shares of the company’s stock after selling 4,968 shares during the period. Principal Financial Group Inc.’s holdings in IDEAYA Biosciences were worth $245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of IDEAYA Biosciences by 43.0% in the second quarter. Bank of New York Mellon Corp now owns 316,492 shares of the company’s stock valued at $11,112,000 after buying an additional 95,129 shares during the period. Rhumbline Advisers increased its holdings in shares of IDEAYA Biosciences by 9.7% in the 2nd quarter. Rhumbline Advisers now owns 105,797 shares of the company’s stock worth $3,715,000 after buying an additional 9,387 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of IDEAYA Biosciences by 10.3% in the 2nd quarter. Victory Capital Management Inc. now owns 316,105 shares of the company’s stock worth $11,098,000 after buying an additional 29,600 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of IDEAYA Biosciences by 14.3% in the 2nd quarter. Arizona State Retirement System now owns 17,742 shares of the company’s stock worth $623,000 after purchasing an additional 2,225 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of IDEAYA Biosciences during the second quarter worth approximately $41,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Oppenheimer reiterated an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Wedbush restated an “outperform” rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Leerink Partnrs cut IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Trading Down 1.2 %

Shares of IDYA stock opened at $25.69 on Tuesday. IDEAYA Biosciences, Inc. has a 12 month low of $24.20 and a 12 month high of $47.74. The stock has a market cap of $2.22 billion, a P/E ratio of -11.03 and a beta of 0.82. The company has a 50 day simple moving average of $27.23 and a two-hundred day simple moving average of $32.96.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same period in the previous year, the business earned ($0.46) earnings per share. As a group, equities analysts forecast that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

IDEAYA Biosciences Profile

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.