IDEAYA Biosciences, Inc. $IDYA Holdings Lifted by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its IDEAYA Biosciences position by 25.5% in the third quarter, bringing its holdings to 147,696 shares valued at approximately $5.7 million. Institutional investors collectively own 98.29% of the company.
• IDYA shares opened at $36.26, down 1%, and remain below the 12-month high of $42.68. The company reported quarterly revenue of $8.86 million but missed analysts’ EPS expectations, posting a loss of $1.22 per share.
• Analyst sentiment remains broadly positive, with 13 Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with a target price of $52.69.

Congress Asset Management Co. lifted its position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 25.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 147,696 shares of the company's stock after buying an additional 29,983 shares during the period. Congress Asset Management Co. owned 0.17% of IDEAYA Biosciences worth $5,674,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of IDEAYA Biosciences during the 2nd quarter valued at about $331,452,000. Jupiter Topco LLC purchased a new stake in IDEAYA Biosciences in the second quarter valued at approximately $319,728,000. Janus Henderson Group PLC grew 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 purchasing an additional 78,797 shares during the period. Baker BROS. Advisors LP increased its position in IDEAYA Biosciences by 10.5% during the fourth quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company's stock worth $125,103,000 after purchasing an additional 343,382 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in IDEAYA Biosciences by 42.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,333,478 shares of the company's stock worth $44,418,000 after purchasing an additional 394,621 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Trading Down 1.0%

Shares of IDYA stock opened at $36.26 on Thursday. IDEAYA Biosciences, Inc. has a twelve month low of $26.05 and a twelve month high of $42.68. The company has a market capitalization of $3.19 billion, a PE ratio of -18.69 and a beta of -0.04. The firm has a fifty day simple moving average of $38.14 and a 200-day simple moving average of $34.27.

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). The company had revenue of $8.86 million during the quarter, compared to analyst estimates of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The business's revenue for the quarter was up 8800.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.88) EPS. Equities research analysts predict that IDEAYA Biosciences, Inc. will post -4.38 EPS for the current year.

Analysts Set New Price Targets

IDYA has been the topic of a number of research analyst reports. Citizens Jmp reiterated a "market outperform" rating and issued a $42.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Wall Street Zen downgraded IDEAYA Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Citigroup reiterated a "market outperform" rating on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of IDEAYA Biosciences in a research report on Friday, July 17th. Finally, Jefferies Financial Group restated a "buy" rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Thirteen equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.69.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights from tumor biology, cancer genetics and synthetic lethality to identify treatments designed to target specific molecular alterations in tumors.

Its development pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily in genetically defined cancers, including GNAQ- or GNA11-mutated uveal melanoma.

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