Adage Capital Partners GP L.L.C. Acquires 220,000 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Adage Capital Partners GP L.L.C. increased its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,200,094 shares of the company's stock after purchasing an additional 220,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.39% of IDEAYA Biosciences worth $30,842,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IDYA. Norges Bank bought a new stake in shares of IDEAYA Biosciences in the fourth quarter valued at about $13,385,000. FMR LLC raised its holdings in IDEAYA Biosciences by 2.6% during the fourth quarter. FMR LLC now owns 12,963,151 shares of the company's stock worth $333,153,000 after acquiring an additional 327,498 shares in the last quarter. Vanguard Group Inc. raised its holdings in IDEAYA Biosciences by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company's stock worth $130,507,000 after acquiring an additional 282,936 shares in the last quarter. WCM Investment Management LLC bought a new stake in IDEAYA Biosciences during the fourth quarter worth about $6,030,000. Finally, JPMorgan Chase & Co. raised its holdings in IDEAYA Biosciences by 244.3% during the fourth quarter. JPMorgan Chase & Co. now owns 274,693 shares of the company's stock worth $7,060,000 after acquiring an additional 194,913 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA traded down $0.14 during trading hours on Thursday, hitting $19.99. The company's stock had a trading volume of 205,414 shares, compared to its average volume of 960,596. The stock has a fifty day simple moving average of $17.91 and a 200-day simple moving average of $23.25. The company has a market capitalization of $1.75 billion, a P/E ratio of -6.06 and a beta of 0.51. IDEAYA Biosciences, Inc. has a twelve month low of $13.45 and a twelve month high of $44.42.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.82). The firm had revenue of $7.00 million during the quarter, compared to analysts' expectations of $7.00 million. On average, equities analysts predict that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IDYA has been the topic of several research analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Royal Bank of Canada restated an "outperform" rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Finally, Stephens restated an "overweight" rating and issued a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IDEAYA Biosciences currently has an average rating of "Moderate Buy" and an average price target of $53.58.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.