Profund Advisors LLC Sells 9,099 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Profund Advisors LLC cut its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 28.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,823 shares of the company’s stock after selling 9,099 shares during the quarter. Profund Advisors LLC’s holdings in IDEAYA Biosciences were worth $801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in IDEAYA Biosciences during the second quarter valued at approximately $41,000. Covestor Ltd increased its stake in shares of IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the last quarter. Comerica Bank raised its holdings in shares of IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after buying an additional 1,324 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in shares of IDEAYA Biosciences during the 1st quarter worth $67,000. Finally, Daiwa Securities Group Inc. boosted its stake in IDEAYA Biosciences by 637.9% in the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock valued at $68,000 after buying an additional 1,684 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on IDYA. Lifesci Capital raised IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Citigroup dropped their price objective on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Stifel Nicolaus boosted their target price on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Wedbush dropped their price target on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, BTIG Research boosted their price objective on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IDEAYA Biosciences has a consensus rating of “Buy” and an average target price of $56.00.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA opened at $31.37 on Wednesday. IDEAYA Biosciences, Inc. has a fifty-two week low of $23.41 and a fifty-two week high of $47.74. The company has a 50 day simple moving average of $38.54 and a two-hundred day simple moving average of $39.48. The company has a market capitalization of $2.37 billion, a PE ratio of -15.61 and a beta of 0.84.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.52% and a negative net margin of 483.05%. During the same period last year, the firm posted ($0.50) EPS. Research analysts predict that IDEAYA Biosciences, Inc. will post -2.51 EPS for the current 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.