39,060 IDEAYA Biosciences, Inc. $IDYA Shares Bought by Alps Advisors Inc.

Key Points

• Alps Advisors increased its IDEAYA Biosciences stake by 44% in the third quarter, buying 39,060 shares to hold 127,829 shares valued at about $4.9 million. Institutional investors collectively own 98.29% of the stock.
• IDEAYA reported quarterly revenue of $10.24 million, up 14.6% year over year and above estimates, but its loss of $1.22 per share was wider than analysts expected.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $50; the shares opened at $31.24 in the article’s cited market update.

Alps Advisors Inc. lifted its position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 44.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,829 shares of the company's stock after acquiring an additional 39,060 shares during the period. Alps Advisors Inc. owned approximately 0.15% of IDEAYA Biosciences worth $4,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IDYA. Sterling Capital Management LLC boosted its position in shares of IDEAYA Biosciences by 20.5% during the third quarter. Sterling Capital Management LLC now owns 1,873 shares of the company's stock valued at $72,000 after buying an additional 319 shares during the last quarter. Covestor Ltd boosted its holdings in shares of IDEAYA Biosciences by 21.1% during the 3rd quarter. Covestor Ltd now owns 3,178 shares of the company's stock valued at $122,000 after acquiring an additional 554 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of IDEAYA Biosciences by 26.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,825 shares of the company's stock valued at $105,000 after acquiring an additional 596 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of IDEAYA Biosciences by 3.9% during the 1st quarter. Hsbc Holdings PLC now owns 19,258 shares of the company's stock valued at $645,000 after acquiring an additional 725 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of IDEAYA Biosciences by 6.3% in the third quarter. ProShare Advisors LLC now owns 14,740 shares of the company's stock worth $566,000 after acquiring an additional 876 shares during the period. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock opened at $31.24 on Monday. IDEAYA Biosciences, Inc. has a 12 month low of $26.81 and a 12 month high of $42.68. The stock has a market cap of $3.02 billion, a P/E ratio of -6.96 and a beta of 0.08. The company has a 50 day simple moving average of $36.28 and a two-hundred day simple moving average of $33.98.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.18) by ($0.04). IDEAYA Biosciences had a negative net margin of 1,157.18% and a negative return on equity of 39.78%. The business had revenue of $10.24 million for the quarter, compared to the consensus estimate of $7.58 million. During the same period in the previous year, the firm earned $1.33 EPS. The company's revenue was up 14.6% on a year-over-year basis. As a group, equities analysts forecast that IDEAYA Biosciences, Inc. will post -4.62 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on IDYA. Guggenheim decreased their price objective on shares of IDEAYA Biosciences from $57.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, November 4th. William Blair began coverage on shares of IDEAYA Biosciences in a report on Friday, October 16th. They issued an "outperform" rating on the stock. Citizens Jmp restated a "market outperform" rating and issued a $42.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 22nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of IDEAYA Biosciences in a research note on Thursday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Insider Buying and Selling

In related news, CEO Yujiro Hata sold 26,338 shares of IDEAYA Biosciences stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $37.41, for a total transaction of $985,304.58. Following the transaction, the chief executive officer directly owned 690,695 shares in the company, valued at approximately $25,838,899.95. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.70% of the company's stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc is a precision oncology company focused on discovering and developing targeted medicines for patients with cancer. Its research uses insights into tumor genetics and synthetic lethality—the idea that certain genetic changes can make cancer cells especially vulnerable to blocking a related biological pathway—to identify potential treatment targets.

The company's investigational pipeline includes small-molecule therapies aimed at specific cancer-related targets. Programs have included darovasertib, a protein kinase C inhibitor being studied in uveal melanoma, and IDE397, a MAT2A inhibitor being developed for tumors with particular genetic alterations.

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