Squarepoint Ops LLC Increases Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Squarepoint Ops LLC increased its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 127.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 100,502 shares of the company’s stock after buying an additional 56,256 shares during the period. Squarepoint Ops LLC’s holdings in IDEAYA Biosciences were worth $3,529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of IDYA. Covestor Ltd grew its stake in 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 period. Quest Partners LLC bought a new position in IDEAYA Biosciences during the second quarter valued at about $41,000. Comerica Bank increased its holdings in IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after buying an additional 1,324 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in IDEAYA Biosciences in the first quarter worth about $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 acquiring an additional 1,684 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IDYA has been the subject of several research analyst reports. Wedbush decreased their price target on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. Stifel Nicolaus lifted their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Lifesci Capital raised shares of IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $56.00.

IDEAYA Biosciences Trading Down 3.0 %

IDEAYA Biosciences stock opened at $30.73 on Wednesday. IDEAYA Biosciences, Inc. has a 1-year low of $23.41 and a 1-year high of $47.74. The firm has a market capitalization of $2.33 billion, a PE ratio of -15.29 and a beta of 0.84. The firm’s 50 day simple moving average is $37.45 and its 200 day simple moving average is $39.00.

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