IDEAYA Biosciences, Inc. $IDYA Stock Position Cut by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. decreased its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 27.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 120,604 shares of the company’s stock after selling 46,313 shares during the period. Platinum Investment Management Ltd.’s holdings in IDEAYA Biosciences were worth $4,169,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in IDYA. Royal Bank of Canada boosted its position in shares of IDEAYA Biosciences by 30.1% during the 1st quarter. Royal Bank of Canada now owns 122,460 shares of the company’s stock valued at $2,006,000 after purchasing an additional 28,322 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of IDEAYA Biosciences by 8.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company’s stock valued at $938,000 after purchasing an additional 4,308 shares in the last quarter. Millennium Management LLC boosted its position in shares of IDEAYA Biosciences by 345.2% during the 1st quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock valued at $8,970,000 after purchasing an additional 424,625 shares in the last quarter. American Century Companies Inc. boosted its position in shares of IDEAYA Biosciences by 862.7% during the 2nd quarter. American Century Companies Inc. now owns 114,644 shares of the company’s stock valued at $2,410,000 after purchasing an additional 102,736 shares in the last quarter. Finally, Norges Bank bought a new position in shares of IDEAYA Biosciences during the 2nd quarter valued at about $643,000. Institutional investors own 98.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. Wells Fargo & Company raised their price objective on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Truist Financial set a $65.00 price objective on shares of IDEAYA Biosciences in a research report on Monday, April 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.69.

IDEAYA Biosciences Price Performance

Shares of IDYA opened at $28.98 on Friday. IDEAYA Biosciences, Inc. has a one year low of $20.50 and a one year high of $39.28. The company has a 50-day moving average of $29.89 and a two-hundred day moving average of $32.49. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -18.11 and a beta of -0.05.

IDEAYA Biosciences (NASDAQ:IDYA) last announced 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. During the same period last year, the firm posted ($0.82) EPS. IDEAYA Biosciences’s revenue for the quarter was down 39.4% on a year-over-year basis. Analysts anticipate that IDEAYA Biosciences, Inc. will post -4.27 earnings per share for the current year.

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.