Hsbc Holdings PLC Grows Stock Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Hsbc Holdings PLC boosted its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 80.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,269 shares of the company’s stock after acquiring an additional 6,789 shares during the period. Hsbc Holdings PLC’s holdings in IDEAYA Biosciences were worth $528,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of IDEAYA Biosciences by 4.9% during the 4th quarter. Franklin Resources Inc. now owns 27,237 shares of the company’s stock worth $969,000 after purchasing an additional 1,260 shares during the last quarter. TD Asset Management Inc boosted its position in shares of IDEAYA Biosciences by 21.1% during the 4th quarter. TD Asset Management Inc now owns 137,690 shares of the company’s stock worth $4,899,000 after purchasing an additional 24,034 shares during the period. Rafferty Asset Management LLC increased its holdings in IDEAYA Biosciences by 49.8% in the 4th quarter. Rafferty Asset Management LLC now owns 193,356 shares of the company’s stock valued at $6,880,000 after purchasing an additional 64,280 shares during the last quarter. Capital Research Global Investors raised its position in IDEAYA Biosciences by 43.6% in the fourth quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock valued at $70,337,000 after purchasing an additional 600,000 shares during the period. Finally, Superstring Capital Management LP acquired a new position in IDEAYA Biosciences during the fourth quarter worth $8,941,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA opened at $31.68 on Tuesday. The stock has a 50-day simple moving average of $37.70 and a 200-day simple moving average of $39.09. The stock has a market cap of $2.40 billion, a P/E ratio of -15.76 and a beta of 0.84. IDEAYA Biosciences, Inc. has a 1 year low of $23.41 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm posted ($0.50) EPS. On average, equities research analysts predict that IDEAYA Biosciences, Inc. will post -2.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IDYA shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price objective on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Oppenheimer cut their target price on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Citigroup decreased their price target on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Wedbush cut their price objective on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IDEAYA Biosciences currently has an average rating of “Buy” and a consensus target price of $56.00.

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.