IDEAYA Biosciences, Inc. $IDYA Shares Sold by Redmile Group LLC

Redmile Group LLC lowered its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 29.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 521,117 shares of the company’s stock after selling 220,900 shares during the quarter. IDEAYA Biosciences makes up approximately 1.1% of Redmile Group LLC’s portfolio, making the stock its 14th biggest position. Redmile Group LLC owned approximately 0.59% of IDEAYA Biosciences worth $17,364,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of IDEAYA Biosciences by 30.1% in the 1st quarter. Royal Bank of Canada now owns 122,460 shares of the company’s stock valued at $2,006,000 after acquiring an additional 28,322 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in IDEAYA Biosciences by 8.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company’s stock worth $938,000 after purchasing an additional 4,308 shares during the period. Millennium Management LLC boosted its stake in IDEAYA Biosciences by 345.2% during the 1st quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock worth $8,970,000 after purchasing an additional 424,625 shares during the period. American Century Companies Inc. grew its position in IDEAYA Biosciences by 862.7% during the 2nd quarter. American Century Companies Inc. now owns 114,644 shares of the company’s stock worth $2,410,000 after purchasing an additional 102,736 shares during the last quarter. Finally, Norges Bank acquired a new position in IDEAYA Biosciences in the second quarter valued at $643,000. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Trading Down 1.7%

Shares of IDYA stock opened at $36.16 on Wednesday. The stock has a 50 day simple moving average of $33.31 and a 200-day simple moving average of $32.67. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -22.60 and a beta of -0.09. IDEAYA Biosciences, Inc. has a 12-month low of $22.09 and a 12-month high of $40.58.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The company had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $5.04 million. During the same quarter in the previous year, the business posted ($0.82) EPS. IDEAYA Biosciences’s quarterly revenue was down 39.4% on a year-over-year basis. On average, equities analysts forecast that IDEAYA Biosciences, Inc. will post -4.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $382,095.50. Following the sale, the chief accounting officer directly owned 26,466 shares in the company, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IDYA shares. The Goldman Sachs Group boosted their price target on IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Wall Street Zen upgraded IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Truist Financial dropped their target price on IDEAYA Biosciences from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Finally, Guggenheim boosted their price objective on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.25.

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.