190,421 Shares in IDEAYA Biosciences, Inc. $IDYA Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC acquired 190,421 shares of IDEAYA Biosciences, valued at approximately $3.12 million, during the first quarter, representing about 0.22% ownership in the company.
• Multiple institutional investors, including CWM LLC and PNC Financial Services Group, significantly increased their holdings in IDEAYA during the first quarter, highlighting growing interest in the company.
• Analysts have set a consensus price target of $45.77 for IDEAYA Biosciences, with most rating the stock as a “Moderate Buy” while some institutions have issued rating upgrades.

Cubist Systematic Strategies LLC bought a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 190,421 shares of the company's stock, valued at approximately $3,119,000. Cubist Systematic Strategies LLC owned approximately 0.22% of IDEAYA Biosciences as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GF Fund Management CO. LTD. bought a new position in IDEAYA Biosciences during the 4th quarter valued at $47,000. CWM LLC raised its holdings in shares of IDEAYA Biosciences by 325.7% in the first quarter. CWM LLC now owns 2,371 shares of the company's stock valued at $39,000 after purchasing an additional 1,814 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of IDEAYA Biosciences by 180.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company's stock valued at $39,000 after purchasing an additional 1,546 shares in the last quarter. Signaturefd LLC boosted its holdings in IDEAYA Biosciences by 374.8% during the first quarter. Signaturefd LLC now owns 2,877 shares of the company's stock worth $47,000 after purchasing an additional 2,271 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in IDEAYA Biosciences by 46.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company's stock worth $109,000 after purchasing an additional 2,112 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on IDYA shares. JPMorgan Chase & Co. lifted their target price on shares of IDEAYA Biosciences from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. TD Cowen began coverage on IDEAYA Biosciences in a report on Tuesday, July 22nd. They set a "buy" rating on the stock. Stephens reissued an "overweight" rating and issued a $45.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday. Royal Bank Of Canada raised their target price on IDEAYA Biosciences from $36.00 to $38.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Wells Fargo & Company began coverage on shares of IDEAYA Biosciences in a report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price target on the stock. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.75.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA traded up $0.22 during trading hours on Thursday, reaching $24.93. The stock had a trading volume of 1,533,875 shares, compared to its average volume of 1,154,854. The stock has a market cap of $2.18 billion, a P/E ratio of -6.58 and a beta of 0.12. The stock has a 50 day simple moving average of $23.89 and a 200 day simple moving average of $20.72. IDEAYA Biosciences, Inc. has a 12-month low of $13.45 and a 12-month high of $37.80.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.03). The firm had revenue of $6.00 million during the quarter, compared to the consensus estimate of $3.48 million. During the same period last year, the firm earned ($0.68) EPS. The business's revenue for the quarter was up NaN% compared to the same quarter last year. On average, equities analysts expect that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

IDEAYA Biosciences 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.