Redmile Group LLC Sells 102,106 Shares of IDEAYA Biosciences, Inc. $IDYA

Redmile Group LLC reduced its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 19.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 432,494 shares of the company’s stock after selling 102,106 shares during the quarter. IDEAYA Biosciences comprises about 1.0% of Redmile Group LLC’s investment portfolio, making the stock its 25th biggest position. Redmile Group LLC owned 0.49% of IDEAYA Biosciences worth $9,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of IDYA. Millennium Management LLC boosted its stake in IDEAYA Biosciences by 345.2% during the first quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock worth $8,970,000 after buying an additional 424,625 shares during the period. Ensign Peak Advisors Inc boosted its stake in shares of IDEAYA Biosciences by 126.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 741,833 shares of the company’s stock worth $15,593,000 after purchasing an additional 414,189 shares during the period. Fiera Capital Corp boosted its stake in shares of IDEAYA Biosciences by 26.6% during the 2nd quarter. Fiera Capital Corp now owns 1,532,269 shares of the company’s stock worth $32,208,000 after purchasing an additional 322,404 shares during the period. Algert Global LLC bought a new position in IDEAYA Biosciences during the 1st quarter valued at about $5,024,000. Finally, Nuveen LLC purchased a new stake in IDEAYA Biosciences in the 1st quarter worth about $4,706,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citizens Jmp assumed coverage on IDEAYA Biosciences in a research report on Thursday, September 4th. They set a “mkt outperform” rating and a $41.00 target price for the company. Royal Bank Of Canada upped their price objective on IDEAYA Biosciences from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. BTIG Research reissued a “buy” rating and set a $62.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 21st. JMP Securities started coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They set a “market outperform” rating and a $41.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on shares of IDEAYA Biosciences from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and a consensus target price of $46.40.

IDEAYA Biosciences Stock Down 0.2%

Shares of IDYA stock opened at $33.56 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -18.04 and a beta of 0.04. IDEAYA Biosciences, Inc. has a 52-week low of $13.45 and a 52-week high of $37.08. The company’s 50 day moving average is $31.48 and its 200 day moving average is $26.24.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, November 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $1.45. The company had revenue of $207.83 million for the quarter, compared to the consensus estimate of $59.98 million. Analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal 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.