Flax Pond Capital LLC Makes New $1.35 Million Investment in IDEAYA Biosciences, Inc. $IDYA

Flax Pond Capital LLC acquired a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 39,142 shares of the company’s stock, valued at approximately $1,353,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IDYA. Farther Finance Advisors LLC boosted its stake in shares of IDEAYA Biosciences by 171.1% during the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after purchasing an additional 580 shares during the period. ANTIPODES PARTNERS Ltd raised its position in IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after purchasing an additional 380 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in IDEAYA Biosciences in the 3rd quarter worth about $38,000. Global Retirement Partners LLC bought a new stake in IDEAYA Biosciences in the fourth quarter worth about $61,000. Finally, Comerica Bank lifted its stake in IDEAYA Biosciences by 36.5% in the fourth quarter. Comerica Bank now owns 2,514 shares of the company’s stock worth $87,000 after purchasing an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $31.23 on Friday. The company has a market capitalization of $2.74 billion, a P/E ratio of -19.52 and a beta of -0.05. The company’s 50-day simple moving average is $29.79 and its two-hundred day simple moving average is $32.33. IDEAYA Biosciences, Inc. has a one year low of $20.50 and a one year 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 analysts’ consensus estimates of ($1.07) by ($0.04). The firm had revenue of $6.56 million for the quarter, compared to analyst estimates of $5.04 million. During the same quarter in the previous year, the business posted ($0.82) earnings per share. The business’s revenue for the quarter was down 39.4% on a year-over-year basis. On average, research analysts expect that IDEAYA Biosciences, Inc. will post -4.13 EPS for the current fiscal year.

Analysts Set New Price Targets

IDYA has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their target price on IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Wedbush reissued an “outperform” rating and set a $58.00 price target on shares of IDEAYA Biosciences in a research note on Friday, June 12th. Guggenheim boosted their price objective on IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Mizuho cut their price objective on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada increased their target price on IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target 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.