AlphaQuest LLC Grows Stock Position in IDEAYA Biosciences, Inc. $IDYA

Key Points

• AlphaQuest LLC increased its stake in IDEAYA Biosciences by 258.1%, holding 27,431 shares worth $449,000 as of its latest SEC filing.
• In addition, several institutional investors have also enhanced their positions, with 98.29% of the company's stock now held by hedge funds and institutional investors.
• Equity research analysts have shown optimism for IDEAYA, with nine analysts rating it as a Buy and establishing an average target price of $47.10.

AlphaQuest LLC lifted its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 258.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,431 shares of the company's stock after buying an additional 19,770 shares during the quarter. AlphaQuest LLC's holdings in IDEAYA Biosciences were worth $449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IDYA. Raymond James Financial Inc. acquired a new position in shares of IDEAYA Biosciences during the fourth quarter worth about $431,000. Mariner LLC boosted its holdings in IDEAYA Biosciences by 9.8% in the fourth quarter. Mariner LLC now owns 9,775 shares of the company's stock valued at $251,000 after purchasing an additional 869 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in IDEAYA Biosciences by 6.9% in the fourth quarter. MetLife Investment Management LLC now owns 50,615 shares of the company's stock valued at $1,301,000 after purchasing an additional 3,257 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in IDEAYA Biosciences by 338.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,242 shares of the company's stock valued at $495,000 after purchasing an additional 14,852 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in IDEAYA Biosciences by 66.6% in the fourth quarter. Hsbc Holdings PLC now owns 38,690 shares of the company's stock valued at $980,000 after purchasing an additional 15,465 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA traded down $0.38 on Friday, reaching $24.55. The stock had a trading volume of 632,810 shares, compared to its average volume of 877,057. IDEAYA Biosciences, Inc. has a 12-month low of $13.45 and a 12-month high of $40.25. The business's 50-day moving average price is $23.26 and its 200 day moving average price is $20.47. The stock has a market cap of $2.15 billion, a P/E ratio of -6.48 and a beta of 0.09.

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

Analyst Upgrades and Downgrades

IDYA has been the subject of a number of research analyst reports. TD Cowen initiated coverage on IDEAYA Biosciences in a report on Tuesday, July 22nd. They issued a "buy" rating for the company. Wells Fargo & Company initiated coverage on IDEAYA Biosciences in a report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price target for the company. The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 price target for the company in a report on Thursday, July 10th. Royal Bank Of Canada raised IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and lowered their price target for the company from $57.00 to $30.00 in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their price target on IDEAYA Biosciences from $66.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.10.

About IDEAYA Biosciences

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.