Hsbc Holdings PLC Grows Holdings in IDEAYA Biosciences, Inc. $IDYA

Key Points

• Hsbc Holdings PLC increased its stake in IDEAYA Biosciences by 119.7%, owning 84,991 shares valued at approximately $1.36 million as of its latest SEC filing.
• Other institutional investors, including Mitsubishi UFJ Asset Management and PNC Financial Services, also increased their holdings, bringing institutional ownership of the stock to 98.29%.
• IDEAYA Biosciences recently reported a loss of $0.88 earnings per share, missing analyst estimates, but its revenue of $6 million exceeded expectations.

Hsbc Holdings PLC raised its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 119.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,991 shares of the company's stock after acquiring an additional 46,301 shares during the quarter. Hsbc Holdings PLC owned approximately 0.10% of IDEAYA Biosciences worth $1,361,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its stake in IDEAYA Biosciences by 33.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,560 shares of the company's stock worth $189,000 after acquiring an additional 2,884 shares during the last quarter. Rhumbline Advisers lifted its stake in IDEAYA Biosciences by 9.6% in the first quarter. Rhumbline Advisers now owns 124,437 shares of the company's stock worth $2,038,000 after acquiring an additional 10,876 shares during the last quarter. Palumbo Wealth Management LLC lifted its stake in IDEAYA Biosciences by 65.8% in the first quarter. Palumbo Wealth Management LLC now owns 22,402 shares of the company's stock worth $367,000 after acquiring an additional 8,893 shares during the last quarter. Swiss National Bank lifted its stake in IDEAYA Biosciences by 0.8% in the first quarter. Swiss National Bank now owns 150,800 shares of the company's stock worth $2,470,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of IDEAYA Biosciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company's stock worth $83,417,000 after buying an additional 14,535 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company's stock.

Wall Street Analysts Forecast Growth

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

IDEAYA Biosciences Stock Down 1.5%

Shares of IDEAYA Biosciences stock traded down $0.38 on Monday, hitting $24.55. The company's stock had a trading volume of 632,810 shares, compared to its average volume of 865,656. IDEAYA Biosciences, Inc. has a 52-week low of $13.45 and a 52-week high of $40.25. The firm has a fifty day moving average price of $23.26 and a 200-day moving average price of $20.46. The company has a market capitalization of $2.15 billion, a P/E ratio of -6.48 and a beta of 0.12.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.03). The company had revenue of $6.00 million for the quarter, compared to analyst estimates of $3.48 million. During the same quarter in the previous year, the company earned ($0.68) EPS. The firm's quarterly revenue was up NaN% on a year-over-year basis. As a group, analysts expect that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

IDEAYA Biosciences Profile

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.