Connor Clark & Lunn Investment Management Ltd. Buys New Shares in IDEAYA Biosciences, Inc. $IDYA

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 90,135 shares of the company's stock, valued at approximately $3,359,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of IDEAYA Biosciences as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in shares of IDEAYA Biosciences by 171.1% during the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company's stock valued at $32,000 after buying an additional 580 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its position in 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 buying an additional 380 shares during the last quarter. Quantbot Technologies LP purchased a new stake in IDEAYA Biosciences in the second quarter worth approximately $43,000. Global Retirement Partners LLC purchased a new stake in IDEAYA Biosciences in the fourth quarter worth approximately $61,000. Finally, Daiwa Securities Group Inc. grew its position in IDEAYA Biosciences by 16.1% during the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company's stock valued at $66,000 after acquiring an additional 436 shares during the last quarter. Institutional investors own 98.29% of the company's stock.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $382,095.50. Following the sale, the chief accounting officer owned 26,466 shares of the company's stock, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.70% of the company's stock.

IDEAYA Biosciences Price Performance

IDYA opened at $40.11 on Friday. IDEAYA Biosciences, Inc. has a one year low of $23.23 and a one year high of $42.68. The business has a 50 day simple moving average of $37.17 and a two-hundred day simple moving average of $33.17. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -20.68 and a beta of -0.10.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on IDYA. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Truist Financial decreased their target price on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Citigroup restated a "market outperform" rating on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. Finally, Wall Street Zen cut IDEAYA Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.12.

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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