Iron Triangle Partners LP Acquires Shares of 270,000 IDEAYA Biosciences, Inc. $IDYA

Iron Triangle Partners LP bought a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 270,000 shares of the company’s stock, valued at approximately $7,347,000. IDEAYA Biosciences accounts for approximately 1.0% of Iron Triangle Partners LP’s holdings, making the stock its 24th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of IDEAYA Biosciences during the third quarter worth approximately $38,000. Abich Financial Wealth Management LLC bought a new position in IDEAYA Biosciences during the 3rd quarter valued at $58,000. Elevation Point Wealth Partners LLC acquired a new position in IDEAYA Biosciences during the 2nd quarter worth $61,000. Daiwa Securities Group Inc. grew its holdings in IDEAYA Biosciences by 16.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after acquiring an additional 436 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of IDEAYA Biosciences by 39.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,344 shares of the company’s stock worth $70,000 after purchasing an additional 940 shares during the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IDYA shares. Truist Financial upped their target price on shares of IDEAYA Biosciences from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Royal Bank Of Canada restated an “outperform” rating and set a $49.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, February 18th. UBS Group assumed coverage on IDEAYA Biosciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Wedbush upped their price target on IDEAYA Biosciences from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $48.69.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $33.09 on Monday. IDEAYA Biosciences, Inc. has a 12-month low of $13.45 and a 12-month high of $39.28. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -25.26 and a beta of 0.09. The business has a 50 day simple moving average of $33.80 and a 200 day simple moving average of $31.56.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, February 17th. The company reported ($0.94) earnings per share 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 the consensus estimate of $5.95 million. During the same period in the previous year, the firm earned ($1.49) EPS. The firm’s revenue was up 55.7% on a year-over-year basis. On average, equities analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In related news, Director Jeffrey Stein acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average cost 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 in the company, valued at $1,789,101.76. This trade represents a 1,167.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.

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.