Bank of America Corp DE Has $31.39 Million Stake in IDEAYA Biosciences, Inc. $IDYA

Key Points

• Bank of America increased its IDEAYA Biosciences stake by 4.3% in the first quarter, holding 942,091 shares worth approximately $31.39 million. Institutional investors and hedge funds collectively own 98.29% of the company.
• IDEAYA reported a quarterly loss of $1.22 per share, missing analyst expectations, while revenue reached $8.86 million and rose sharply year over year. The company remains unprofitable, with analysts expecting a full-year loss of $4.38 per share.
• Analyst sentiment is largely positive, with 14 Buy ratings, one Hold, and one Sell, producing a “Moderate Buy” consensus and an average price target of $50.12 versus the stock’s recent price of $36.30.

Bank of America Corp DE grew its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 942,091 shares of the company's stock after purchasing an additional 39,118 shares during the quarter. Bank of America Corp DE owned approximately 1.07% of IDEAYA Biosciences worth $31,390,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in IDEAYA Biosciences by 1.1% in the first quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company's stock valued at $242,023,000 after buying an additional 78,797 shares during the period. California State Teachers Retirement System grew its holdings in IDEAYA Biosciences by 27.3% during the 1st quarter. California State Teachers Retirement System now owns 96,655 shares of the company's stock worth $3,221,000 after acquiring an additional 20,710 shares during the period. The Manufacturers Life Insurance Company grew its holdings in IDEAYA Biosciences by 4.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 72,906 shares of the company's stock worth $2,429,000 after acquiring an additional 2,997 shares during the period. Quantinno Capital Management LP raised its position in shares of IDEAYA Biosciences by 15.7% in the 1st quarter. Quantinno Capital Management LP now owns 23,162 shares of the company's stock worth $772,000 after acquiring an additional 3,137 shares in the last quarter. Finally, SummitTX Capital L.P. acquired a new position in shares of IDEAYA Biosciences in the 1st quarter valued at about $5,422,000. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Stock Down 1.0%

NASDAQ IDYA opened at $36.30 on Friday. IDEAYA Biosciences, Inc. has a 52 week low of $23.23 and a 52 week high of $40.58. The business has a 50 day moving average price of $35.19 and a 200-day moving average price of $32.71. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -18.71 and a beta of -0.10.

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

Insiders Place Their Bets

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of the firm's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the transaction, the chief accounting officer directly owned 26,466 shares of the company's stock, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wedbush upped their target price on IDEAYA Biosciences from $58.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded IDEAYA Biosciences from a "hold" rating to a "sell" rating in a report on Saturday. Royal Bank Of Canada dropped their price target on IDEAYA Biosciences from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 7th. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.12.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA's pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA's approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.

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