IDEAYA Biosciences, Inc. $IDYA Shares Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP lifted its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 193.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,946 shares of the company’s stock after purchasing an additional 32,953 shares during the period. Cinctive Capital Management LP’s holdings in IDEAYA Biosciences were worth $1,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of IDYA. Baker BROS. Advisors LP increased its stake in IDEAYA Biosciences by 54.6% during the 3rd quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock worth $89,125,000 after buying an additional 1,156,716 shares in the last quarter. Millennium Management LLC lifted its position in shares of IDEAYA Biosciences by 345.2% in the first quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock valued at $8,970,000 after acquiring an additional 424,625 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of IDEAYA Biosciences by 126.4% in the second quarter. Ensign Peak Advisors Inc now owns 741,833 shares of the company’s stock worth $15,593,000 after acquiring an additional 414,189 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of IDEAYA Biosciences by 1,619.5% during the third quarter. Balyasny Asset Management L.P. now owns 380,311 shares of the company’s stock worth $10,348,000 after purchasing an additional 358,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of IDEAYA Biosciences by 191.2% during the third quarter. Dimensional Fund Advisors LP now owns 497,048 shares of the company’s stock worth $13,525,000 after purchasing an additional 326,376 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey Stein purchased 50,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was acquired at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the purchase, the director directly owned 54,281 shares in the company, valued at approximately $1,789,101.76. This represents a 1,167.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Wedbush upped their target price on shares of IDEAYA Biosciences from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Guggenheim reiterated a “buy” rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $49.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Fifteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.69.

IDEAYA Biosciences Stock Up 5.1%

NASDAQ IDYA opened at $34.79 on Tuesday. The business’s fifty day simple moving average is $33.80 and its 200-day simple moving average is $31.63. The firm has a market cap of $3.05 billion, a PE ratio of -26.56 and a beta of 0.09. IDEAYA Biosciences, Inc. has a 52 week low of $13.45 and a 52 week high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.09. The firm had revenue of $21.75 million during the quarter, compared to analysts’ expectations of $5.95 million. During the same period in the prior year, the company posted ($1.49) EPS. The company’s revenue for the quarter was up 55.7% compared to the same quarter last year. Research analysts expect that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.