Jupiter Topco LLC Makes New Investment in IDEAYA Biosciences, Inc. $IDYA

Key Points

• Jupiter Topco LLC acquired 8.58 million IDEAYA Biosciences shares worth approximately $319.7 million, giving it a 9.77% stake. Institutional investors and hedge funds collectively own 98.29% of the company.
• IDEAYA shares opened at $42.48 after rising 6.1%, near their 52-week high of $42.68. The company reported quarterly revenue of $8.86 million, up sharply year over year, but missed EPS estimates with a loss of $1.22 per share.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $50.12, although some analysts have reduced their targets and one firm downgraded the stock to “sell.”

Jupiter Topco LLC purchased a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,579,881 shares of the company's stock, valued at approximately $319,728,000. Jupiter Topco LLC owned 9.77% of IDEAYA Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IDYA. Farther Finance Advisors LLC lifted its position 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 worth $32,000 after purchasing an additional 580 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company's stock valued at $40,000 after buying an additional 380 shares during the last quarter. Quantbot Technologies LP acquired a new stake in IDEAYA Biosciences in the 2nd quarter valued at approximately $43,000. Global Retirement Partners LLC bought a new position in IDEAYA Biosciences in the 4th quarter worth approximately $61,000. Finally, Daiwa Securities Group Inc. increased its position in IDEAYA Biosciences by 16.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company's stock worth $66,000 after buying an additional 436 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the firm's 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 completion of the transaction, the chief accounting officer directly owned 26,466 shares of the company's stock, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.70% of the company's stock.

IDEAYA Biosciences Trading Up 6.1%

IDYA opened at $42.48 on Wednesday. The stock's 50 day simple moving average is $36.57 and its 200-day simple moving average is $32.98. The stock has a market cap of $3.73 billion, a PE ratio of -21.90 and a beta of -0.10. IDEAYA Biosciences, Inc. has a 1 year low of $23.23 and a 1 year high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its 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). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.The firm had revenue of $8.86 million during the quarter, compared to the consensus estimate of $8.02 million. During the same period last year, the business earned ($0.88) earnings per share. The firm's revenue for the quarter was up 8800.0% compared to the same quarter last year. Equities analysts forecast that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDYA has been the subject of a number of research analyst reports. Royal Bank Of Canada cut their price target on IDEAYA Biosciences from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. Mizuho dropped 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 report on Thursday, May 7th. Citigroup reiterated a "market outperform" rating on shares of IDEAYA Biosciences in a research note on Tuesday, June 2nd. Wall Street Zen downgraded shares of IDEAYA Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Fourteen 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 company. According to MarketBeat, IDEAYA Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $50.12.

IDEAYA Biosciences Company Profile

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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