Algert Global LLC Buys Shares of 306,708 IDEAYA Biosciences, Inc. $IDYA

Key Points

• Algert Global LLC has acquired 306,708 shares of IDEAYA Biosciences, valued at approximately $5,024,000, increasing its ownership to 0.35% as of the latest quarter.
• IDEAYA has reported a loss of $0.88 EPS for the last quarter, missing analysts' expectations, although revenue surpassed predicted figures at $6 million.
• Brokerages are showing varied sentiments about IDEAYA's stock, with a consensus rating of "Moderate Buy" and an average price target of $48.09 according to MarketBeat.

Algert Global LLC purchased a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 306,708 shares of the company's stock, valued at approximately $5,024,000. Algert Global LLC owned approximately 0.35% of IDEAYA Biosciences as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IDYA. CWM LLC increased its holdings in IDEAYA Biosciences by 325.7% in the 1st quarter. CWM LLC now owns 2,371 shares of the company's stock worth $39,000 after acquiring an additional 1,814 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in IDEAYA Biosciences by 180.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company's stock worth $39,000 after acquiring an additional 1,546 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in IDEAYA Biosciences in the 4th quarter worth $47,000. Signaturefd LLC boosted its stake in IDEAYA Biosciences by 374.8% during the 1st 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 boosted its stake in IDEAYA Biosciences by 46.4% during 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 during the last quarter. Hedge funds and other institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock traded up $0.49 on Friday, hitting $25.12. 850,367 shares of the stock traded hands, compared to its average volume of 1,044,983. The firm's 50-day moving average price is $22.98 and its two-hundred day moving average price is $20.36. The stock has a market capitalization of $2.20 billion, a PE ratio of -6.63 and a beta of 0.09. IDEAYA Biosciences, Inc. has a twelve month low of $13.45 and a twelve month high of $40.74.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $3.48 million. The company's revenue was up NaN% on a year-over-year basis. During the same quarter last year, the firm posted ($0.68) earnings per share. On average, equities research analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IDYA shares. TD Cowen started coverage on shares of IDEAYA Biosciences in a research note on Tuesday, July 22nd. They set a "buy" rating on the stock. Wells Fargo & Company started coverage on shares of IDEAYA Biosciences in a research note on Thursday, June 26th. They set an "overweight" rating and a $44.00 target price on the stock. Royal Bank Of Canada raised shares of IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and lowered their target price for the stock from $57.00 to $30.00 in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of IDEAYA Biosciences from $66.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, The Goldman Sachs Group raised shares of IDEAYA Biosciences to a "hold" rating and set a $25.00 target price on the stock in a research note on Thursday, July 10th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.09.

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.