Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in IDEAYA Biosciences, Inc. $IDYA

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 59,780 shares of the company’s stock, valued at approximately $2,228,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDYA. Farther Finance Advisors LLC boosted its stake in shares of IDEAYA Biosciences by 171.1% in the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after buying an additional 580 shares during the period. ANTIPODES PARTNERS Ltd increased its stake in IDEAYA Biosciences by 49.4% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after acquiring an additional 380 shares during the period. Global Retirement Partners LLC acquired a new position in IDEAYA Biosciences in the 4th quarter valued at $61,000. Daiwa Securities Group Inc. raised its holdings in IDEAYA Biosciences by 16.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after acquiring an additional 436 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of IDEAYA Biosciences during the 1st quarter valued at $84,000. 98.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IDYA has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Royal Bank Of Canada reduced their price objective on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Citigroup reissued a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Wedbush boosted their target price on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of IDEAYA Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.12.

Insider Buying and Selling

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.70% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $39.67 on Friday. IDEAYA Biosciences, Inc. has a 52-week low of $23.23 and a 52-week high of $40.58. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -20.45 and a beta of -0.10. The business’s fifty day moving average is $36.14 and its 200-day moving average is $32.88.

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

IDEAYA Biosciences Company Profile

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.