Great Lakes Advisors LLC Makes New Investment in IDEAYA Biosciences, Inc. $IDYA

Great Lakes Advisors LLC acquired a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 87,747 shares of the company’s stock, valued at approximately $3,270,000. Great Lakes Advisors LLC owned approximately 0.10% of IDEAYA Biosciences as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in IDEAYA Biosciences during the 4th quarter worth about $868,000. Walleye Capital LLC acquired a new stake in IDEAYA Biosciences in the 2nd quarter valued at about $14,393,000. Bank of America Corp DE boosted its stake in shares of IDEAYA Biosciences by 4.3% in the 1st quarter. Bank of America Corp DE now owns 942,091 shares of the company’s stock valued at $31,390,000 after buying an additional 39,118 shares during the period. Profund Advisors LLC boosted its stake in shares of IDEAYA Biosciences by 127.7% in the 4th quarter. Profund Advisors LLC now owns 47,115 shares of the company’s stock valued at $1,629,000 after buying an additional 26,424 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of IDEAYA Biosciences by 1.1% during the first quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company’s stock worth $242,023,000 after buying an additional 78,797 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Trading Up 0.6%

Shares of IDEAYA Biosciences stock opened at $39.11 on Friday. The company has a fifty day simple moving average of $35.92 and a 200-day simple moving average of $32.83. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -20.16 and a beta of -0.10. IDEAYA Biosciences, Inc. has a 12-month low of $23.23 and a 12-month high of $40.58.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.16). IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The company had revenue of $8.86 million during the quarter, compared to analyst estimates of $8.02 million. During the same quarter in the prior year, the company earned ($0.88) EPS. The business’s revenue was up 8800.0% on a year-over-year basis. On average, analysts forecast that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IDYA. Citigroup reaffirmed a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Wall Street Zen downgraded shares of IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Wedbush lifted their price objective on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, IDEAYA Biosciences currently has an average rating of “Moderate Buy” and an average price target of $50.12.

Insider Activity

In related news, CAO Briseno Andres Ruiz sold 9,550 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the sale, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at $1,058,904.66. This represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.70% of the stock is currently owned by company insiders.

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.