Adage Capital Partners GP L.L.C. Sells 12,000 Shares of IDEAYA Biosciences, Inc. $IDYA

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in IDEAYA Biosciences by 1.0%, now owning 1,188,094 shares valued at approximately $19.46 million.
• Several institutional investors, including CWM LLC and PNC Financial Services Group Inc., have significantly increased their positions in the company during the first quarter.
• Analysts have set a consensus price target of $45.77 for IDEAYA Biosciences, with most ratings being 'Buy' or 'Overweight'.

Adage Capital Partners GP L.L.C. decreased its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,188,094 shares of the company's stock after selling 12,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.36% of IDEAYA Biosciences worth $19,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of IDEAYA Biosciences by 13.5% in the 4th quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company's stock valued at $150,606,000 after acquiring an additional 695,263 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of IDEAYA Biosciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company's stock worth $83,417,000 after purchasing an additional 14,535 shares in the last quarter. Fiera Capital Corp increased its position in shares of IDEAYA Biosciences by 2.1% in the first quarter. Fiera Capital Corp now owns 1,209,865 shares of the company's stock worth $19,818,000 after purchasing an additional 25,398 shares during the last quarter. Bank of America Corp DE raised its stake in IDEAYA Biosciences by 5.9% in the fourth quarter. Bank of America Corp DE now owns 747,934 shares of the company's stock valued at $19,222,000 after purchasing an additional 41,390 shares in the last quarter. Finally, Woodline Partners LP lifted its position in IDEAYA Biosciences by 0.3% during the fourth quarter. Woodline Partners LP now owns 590,697 shares of the company's stock valued at $15,181,000 after purchasing an additional 1,943 shares during the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of IDEAYA Biosciences to a "hold" rating and set a $25.00 price objective on the stock in a research report on Thursday, July 10th. Oppenheimer set a $36.00 target price on IDEAYA Biosciences and gave the company an "outperform" rating in a research note on Monday. TD Cowen initiated coverage on IDEAYA Biosciences in a research note on Tuesday, July 22nd. They set a "buy" rating for the company. JMP Securities initiated coverage on IDEAYA Biosciences in a research report on Thursday, September 4th. They set a "market outperform" rating and a $41.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of IDEAYA Biosciences in a report on Tuesday. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.75.

IDEAYA Biosciences Trading Up 0.9%

Shares of NASDAQ:IDYA traded up $0.22 on Thursday, reaching $24.93. 1,533,875 shares of the company traded hands, compared to its average volume of 1,154,854. The stock has a market capitalization of $2.18 billion, a P/E ratio of -6.58 and a beta of 0.12. The business's 50-day simple moving average is $23.89 and its 200 day simple moving average is $20.72. IDEAYA Biosciences, Inc. has a 52 week low of $13.45 and a 52 week high of $37.80.

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