Eventide Asset Management LLC Sells 341,635 Shares of IDEAYA Biosciences, Inc. $IDYA

Eventide Asset Management LLC lessened its stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 54.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,069 shares of the company’s stock after selling 341,635 shares during the period. Eventide Asset Management LLC owned 0.32% of IDEAYA Biosciences worth $9,820,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in IDEAYA Biosciences by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after purchasing an additional 97,116 shares during the last quarter. State Street Corp raised its position in IDEAYA Biosciences by 27.6% in the 4th quarter. State Street Corp now owns 4,134,641 shares of the company’s stock worth $142,935,000 after purchasing an additional 893,707 shares during the last quarter. Baker BROS. Advisors LP raised its position in IDEAYA Biosciences by 54.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock worth $89,125,000 after purchasing an additional 1,156,716 shares during the last quarter. Fiera Capital Corp raised its position in IDEAYA Biosciences by 32.6% in the 4th quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock worth $84,256,000 after purchasing an additional 599,295 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in IDEAYA Biosciences by 43.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,770,866 shares of the company’s stock worth $61,219,000 after purchasing an additional 537,753 shares during the last quarter. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock opened at $28.98 on Monday. The firm has a fifty day moving average of $29.89 and a two-hundred day moving average of $32.47. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -18.11 and a beta of -0.04. IDEAYA Biosciences, Inc. has a 52 week low of $20.50 and a 52 week high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The business had revenue of $6.56 million for the quarter, compared to the consensus estimate of $5.04 million. The business’s revenue was down 39.4% on a year-over-year basis. During the same period last year, the firm earned ($0.82) EPS. As a group, research analysts forecast that IDEAYA Biosciences, Inc. will post -4.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on IDYA shares. Wall Street Zen upgraded shares of IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. The Goldman Sachs Group boosted their price objective on shares of IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Finally, Truist Financial set a $65.00 target price on shares of IDEAYA Biosciences in a research report on Monday, April 13th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.69.

IDEAYA Biosciences 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.