Baker BROS. Advisors LP Acquires 1,156,716 Shares of IDEAYA Biosciences, Inc. $IDYA

Baker BROS. Advisors LP raised its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 54.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,275,444 shares of the company’s stock after acquiring an additional 1,156,716 shares during the quarter. IDEAYA Biosciences comprises approximately 0.6% of Baker BROS. Advisors LP’s holdings, making the stock its 19th largest position. Baker BROS. Advisors LP’s holdings in IDEAYA Biosciences were worth $89,125,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IDYA. Aster Capital Management DIFC Ltd bought a new position in shares of IDEAYA Biosciences during the 3rd quarter valued at $38,000. Abich Financial Wealth Management LLC acquired a new stake in shares of IDEAYA Biosciences in the 3rd quarter valued at $58,000. Elevation Point Wealth Partners LLC bought a new stake in IDEAYA Biosciences in the second quarter worth $61,000. Daiwa Securities Group Inc. boosted its holdings in IDEAYA Biosciences by 16.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after purchasing an additional 436 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in IDEAYA Biosciences by 39.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,344 shares of the company’s stock worth $70,000 after buying an additional 940 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

IDYA has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Guggenheim restated a “buy” rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Citigroup upped their target price on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. UBS Group began coverage on IDEAYA Biosciences in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Thursday, January 22nd. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.69.

Insiders Place Their Bets

In other IDEAYA Biosciences news, Director Jeffrey Stein purchased 50,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were purchased at an average price of $32.96 per share, for a total transaction of $1,648,000.00. Following the completion of the purchase, the director directly owned 54,281 shares of the company’s stock, valued at approximately $1,789,101.76. This represents a 1,167.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is owned by corporate insiders.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA opened at $33.09 on Friday. IDEAYA Biosciences, Inc. has a twelve month low of $13.45 and a twelve month high of $39.28. The stock has a market cap of $2.91 billion, a PE ratio of -25.26 and a beta of 0.09. The firm has a 50-day simple moving average of $33.80 and a 200 day simple moving average of $31.51.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly 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 firm had revenue of $21.75 million for the quarter, compared to the consensus estimate of $5.95 million. The company’s revenue was up 55.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.49) earnings per share. Research analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

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.