Oppenheimer Asset Management Inc. Takes $553,000 Position in IDEAYA Biosciences, Inc. $IDYA

Oppenheimer Asset Management Inc. purchased a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,847 shares of the company’s stock, valued at approximately $553,000.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in IDEAYA Biosciences by 171.1% during the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after purchasing an additional 580 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its holdings in IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after purchasing an additional 380 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of IDEAYA Biosciences during the fourth quarter valued at about $61,000. Daiwa Securities Group Inc. lifted its position in shares of IDEAYA Biosciences by 16.1% during the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after buying an additional 436 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of IDEAYA Biosciences during the first quarter valued at about $84,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IDYA has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Citigroup reiterated a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Truist Financial lowered their price objective on IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Mizuho lowered their price objective on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, Wedbush boosted their target price on IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.12.

Insider Buying and Selling

In related news, CAO Briseno Andres Ruiz sold 9,550 shares of IDEAYA Biosciences stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $382,095.50. Following the completion of the transaction, the chief accounting officer directly owned 26,466 shares in the company, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.70% of the stock is currently owned by company insiders.

IDEAYA Biosciences Stock Up 0.7%

Shares of NASDAQ:IDYA opened at $36.54 on Tuesday. IDEAYA Biosciences, Inc. has a 52-week low of $23.23 and a 52-week high of $40.58. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -18.84 and a beta of -0.10. The business has a 50-day moving average price of $35.30 and a 200-day moving average price of $32.71.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, August 4th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The firm had revenue of $8.86 million during the quarter, compared to analysts’ expectations of $8.02 million. During the same quarter in the prior year, the company earned ($0.88) EPS. IDEAYA Biosciences’s quarterly revenue was up 8800.0% on a year-over-year basis. As a group, equities analysts anticipate that IDEAYA Biosciences, Inc. will post -4.38 EPS for the current fiscal year.

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.