Capital Research Global Investors Lowers Stock Position in IDEAYA Biosciences, Inc. $IDYA

Capital Research Global Investors cut its position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,279,675 shares of the company’s stock after selling 1,273,016 shares during the period. Capital Research Global Investors owned 6.02% of IDEAYA Biosciences worth $182,518,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BIT Capital GmbH boosted its holdings in IDEAYA Biosciences by 459.8% during the fourth quarter. BIT Capital GmbH now owns 16,900 shares of the company’s stock worth $584,000 after buying an additional 13,881 shares in the last quarter. Parallel Advisors LLC boosted its holdings in IDEAYA Biosciences by 23.4% during the fourth quarter. Parallel Advisors LLC now owns 3,847 shares of the company’s stock worth $133,000 after buying an additional 730 shares in the last quarter. TD Asset Management Inc boosted its holdings in IDEAYA Biosciences by 74.1% during the fourth quarter. TD Asset Management Inc now owns 46,040 shares of the company’s stock worth $1,592,000 after buying an additional 19,600 shares in the last quarter. Lido Advisors LLC purchased a new stake in IDEAYA Biosciences during the fourth quarter worth $1,913,000. Finally, Goldman Sachs Group Inc. boosted its holdings in IDEAYA Biosciences by 43.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,770,866 shares of the company’s stock worth $61,219,000 after buying an additional 537,753 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Stock Up 11.3%

Shares of NASDAQ IDYA opened at $31.48 on Tuesday. The company’s 50-day simple moving average is $30.18 and its 200-day simple moving average is $32.62. IDEAYA Biosciences, Inc. has a 52-week low of $20.50 and a 52-week high of $39.28. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -19.68 and a beta of -0.04.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the business posted ($0.82) EPS. The firm’s revenue for the quarter was down 39.4% on a year-over-year basis. Equities research analysts anticipate that IDEAYA Biosciences, Inc. will post -4.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on IDYA shares. Truist Financial set a $65.00 price target on shares of IDEAYA Biosciences in a report on Monday, April 13th. Wedbush reissued an “outperform” rating and set a $58.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Citigroup reissued a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Guggenheim increased their price target on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Royal Bank Of Canada increased their price objective on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Fifteen equities research 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. Based on data from MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and a consensus target price of $50.69.

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.