Bank of New York Mellon Corp Takes Position in IDEAYA Biosciences, Inc. $IDYA

Key Points

• Bank of New York Mellon purchased 265,203 IDEAYA Biosciences shares valued at approximately $9.9 million, giving it a 0.30% stake. Institutional investors collectively own 98.29% of the company.
• IDEAYA’s latest quarter showed revenue of $8.86 million, up sharply year over year and above estimates, but the company reported an adjusted loss of $1.22 per share, missing expectations. Analysts anticipate a full-year loss of $4.38 per share.
• Despite mixed financial results and an insider sale, analysts remain broadly positive: 16 rate the stock Buy, with an average price target of $50.19 versus a recent price near $40.17.

Bank of New York Mellon Corp purchased a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 265,203 shares of the company's stock, valued at approximately $9,884,000. Bank of New York Mellon Corp owned about 0.30% of IDEAYA Biosciences at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in IDEAYA Biosciences by 171.1% in the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company's stock worth $32,000 after acquiring an additional 580 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company's stock worth $40,000 after purchasing an additional 380 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of IDEAYA Biosciences in the 4th quarter worth $61,000. Comerica Bank raised its stake in shares of IDEAYA Biosciences by 36.5% in the fourth quarter. Comerica Bank now owns 2,514 shares of the company's stock worth $87,000 after purchasing an additional 672 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of IDEAYA Biosciences in the first quarter worth $84,000. Institutional investors own 98.29% of the company's stock.

Insiders Place Their Bets

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of the stock in a transaction that occurred 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 in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.70% of the company's stock.

IDEAYA Biosciences Stock Up 0.6%

IDEAYA Biosciences stock opened at $40.17 on Thursday. The business has a 50-day simple moving average of $37.46 and a two-hundred day simple moving average of $33.34. The company has a market cap of $3.53 billion, a P/E ratio of -20.71 and a beta of -0.07. IDEAYA Biosciences, Inc. has a 52-week low of $23.23 and a 52-week high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($1.22) EPS 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 analysts' expectations 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 for the quarter was up 8800.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.88) EPS. Research analysts anticipate that IDEAYA Biosciences, Inc. will post -4.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on IDYA. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of IDEAYA Biosciences in a research report on Friday, July 17th. Mizuho lowered their target price on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, May 7th. Jefferies Financial Group reaffirmed a "buy" rating on shares of IDEAYA Biosciences in a report on Tuesday. Finally, Truist Financial dropped their price target on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Sixteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.19.

About IDEAYA Biosciences

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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