Bank of New York Mellon Corp Trims Stock Holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Bank of New York Mellon Corp decreased its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,299 shares of the company’s stock after selling 49,932 shares during the period. Bank of New York Mellon Corp’s holdings in IDEAYA Biosciences were worth $5,816,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Handelsbanken Fonder AB increased its stake in shares of IDEAYA Biosciences by 8.1% in the fourth quarter. Handelsbanken Fonder AB now owns 25,300 shares of the company’s stock worth $650,000 after purchasing an additional 1,900 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of IDEAYA Biosciences by 62.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 81,174 shares of the company’s stock worth $2,086,000 after purchasing an additional 31,335 shares in the last quarter. Palumbo Wealth Management LLC increased its stake in shares of IDEAYA Biosciences by 91.7% in the fourth quarter. Palumbo Wealth Management LLC now owns 13,509 shares of the company’s stock worth $347,000 after purchasing an additional 6,462 shares in the last quarter. Rhumbline Advisers increased its stake in shares of IDEAYA Biosciences by 0.5% in the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company’s stock worth $2,919,000 after purchasing an additional 585 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new position in shares of IDEAYA Biosciences in the fourth quarter worth about $6,030,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on IDYA. Stephens reaffirmed an “overweight” rating and set a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Finally, Wedbush reaffirmed an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.58.

IDEAYA Biosciences Price Performance

IDYA stock opened at $18.58 on Monday. IDEAYA Biosciences, Inc. has a one year low of $16.95 and a one year high of $46.40. The stock has a market cap of $1.63 billion, a PE ratio of -5.63 and a beta of 0.76. The firm has a 50 day simple moving average of $21.95 and a two-hundred day simple moving average of $27.15.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.00 million. On average, research analysts expect that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

IDEAYA Biosciences Company 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.