Jeffrey Stein Purchases 50,000 Shares of IDEAYA Biosciences (NASDAQ:IDYA) Stock

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Director Jeffrey Stein acquired 50,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was purchased at an average cost of $32.96 per share, for a total transaction of $1,648,000.00. Following the transaction, the director owned 54,281 shares in the company, valued at approximately $1,789,101.76. The trade was a 1,167.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA traded up $0.84 during midday trading on Monday, reaching $33.04. 857,241 shares of the stock traded hands, compared to its average volume of 811,023. The stock has a market capitalization of $2.90 billion, a PE ratio of -25.22 and a beta of 0.09. IDEAYA Biosciences, Inc. has a 12-month low of $13.45 and a 12-month high of $39.28. The business has a 50-day moving average of $34.04 and a two-hundred day moving average of $30.91.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, February 17th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.09. The business had revenue of $21.75 million for the quarter, compared to analyst estimates of $5.95 million. During the same period in the prior year, the company earned ($1.49) earnings per share. The company’s quarterly revenue was up 55.7% on a year-over-year basis. Research analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IDYA shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Wednesday, February 18th. Mizuho raised their price target on shares of IDEAYA Biosciences from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a $49.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, February 18th. Wall Street Zen lowered shares of IDEAYA Biosciences from a “buy” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Citigroup raised their target price on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.69.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors have recently modified their holdings of IDYA. Royal Bank of Canada boosted its stake in shares of IDEAYA Biosciences by 30.1% in the first quarter. Royal Bank of Canada now owns 122,460 shares of the company’s stock worth $2,006,000 after buying an additional 28,322 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in IDEAYA Biosciences by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company’s stock valued at $938,000 after acquiring an additional 4,308 shares during the period. Millennium Management LLC lifted its holdings in IDEAYA Biosciences by 345.2% in the first quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock valued at $8,970,000 after acquiring an additional 424,625 shares during the period. CWM LLC boosted its position in IDEAYA Biosciences by 33.0% in the 2nd quarter. CWM LLC now owns 3,153 shares of the company’s stock worth $66,000 after purchasing an additional 782 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of IDEAYA Biosciences by 19.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,787 shares of the company’s stock worth $290,000 after purchasing an additional 2,227 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.