Bank of America Corp DE Buys New Stake in IDEAYA Biosciences, Inc. $IDYA

Bank of America Corp DE purchased a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,026,143 shares of the company's stock, valued at approximately $38,244,000. Bank of America Corp DE owned approximately 1.17% of IDEAYA Biosciences as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of IDYA. Quantbot Technologies LP acquired a new stake in shares of IDEAYA Biosciences in the second quarter valued at $43,000. Global Retirement Partners LLC acquired a new position in IDEAYA Biosciences during the fourth quarter worth about $61,000. Fifth Third Bancorp acquired a new position in IDEAYA Biosciences during the first quarter worth about $84,000. Versant Capital Management Inc raised its position in IDEAYA Biosciences by 26.7% in the second quarter. Versant Capital Management Inc now owns 2,825 shares of the company's stock worth $105,000 after acquiring an additional 596 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in IDEAYA Biosciences in the second quarter worth about $141,000. 98.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IDYA has been the subject of a number of research reports. Royal Bank Of Canada reduced their target price on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. Wedbush upped their price target on IDEAYA Biosciences from $58.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Guggenheim increased their price objective on IDEAYA Biosciences from $54.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, September 9th. Citigroup reissued a "market outperform" rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Finally, Truist Financial decreased their target price on IDEAYA Biosciences from $63.00 to $59.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.69.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ IDYA opened at $38.86 on Tuesday. The business has a 50 day simple moving average of $37.75 and a 200 day simple moving average of $33.95. IDEAYA Biosciences, Inc. has a 52 week low of $25.35 and a 52 week high of $42.68. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -20.03 and a beta of -0.07.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The business had revenue of $8.86 million for the quarter, compared to the consensus estimate of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. IDEAYA Biosciences's revenue was up 8800.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.88) EPS. On average, analysts predict that IDEAYA Biosciences, Inc. will post -4.38 EPS for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In related news, CAO Andres Ruiz Briseno sold 9,550 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the sale, the chief accounting officer directly owned 26,466 shares in the company, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.70% of the company's stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for cancer. The company uses insights from tumor genetics and synthetic lethality—the targeting of vulnerabilities created by specific genetic alterations—to identify therapies intended for molecularly defined patient populations.

IDEAYA's investigational pipeline includes darovasertib (IDE196), a protein kinase C inhibitor being studied in genetically defined cancers, including metastatic uveal melanoma associated with GNAQ or GNA11 mutations.

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