Legal & General Group Plc Buys Shares of 80,461 IDEAYA Biosciences, Inc. $IDYA

Key Points

• Legal & General Group Plc initiated a position in IDEAYA Biosciences during the second quarter, buying 80,461 shares valued at approximately $3.0 million. Institutional investors collectively own 98.29% of the company.
• Analysts maintain a generally positive outlook, with 15 Buy ratings, one Hold, and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $50.87.
• IDYA recently traded near $39.86, while its latest quarter showed an EPS loss of $1.22 versus the $1.06 expected, despite revenue of $8.86 million—up sharply year over year and above estimates.

Legal & General Group Plc purchased a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 80,461 shares of the company's stock, valued at approximately $2,999,000. Legal & General Group Plc owned 0.09% of IDEAYA Biosciences at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of IDEAYA Biosciences in the second quarter valued at $331,452,000. Janus Henderson Group PLC grew its stake in shares of IDEAYA Biosciences by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company's stock worth $242,023,000 after acquiring an additional 78,797 shares during the period. Vanguard Group Inc. increased its holdings in IDEAYA Biosciences by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company's stock worth $173,518,000 after acquiring an additional 97,116 shares during the last quarter. State Street Corp raised its stake in IDEAYA Biosciences by 27.6% in the 4th quarter. State Street Corp now owns 4,134,641 shares of the company's stock valued at $142,935,000 after acquiring an additional 893,707 shares during the period. Finally, Baker BROS. Advisors LP raised its stake in IDEAYA Biosciences by 10.5% in the 4th quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company's stock valued at $125,103,000 after acquiring an additional 343,382 shares during the period. Hedge funds and other institutional investors own 98.29% of the company's stock.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CAO Andres Ruiz Briseno sold 9,550 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the transaction, the chief accounting officer owned 26,466 shares of the company's stock, valued at approximately $1,058,904.66. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.70% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on IDYA. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Royal Bank Of Canada lowered their price target on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 7th. Truist Financial dropped their price target on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Citigroup reaffirmed a "market outperform" rating on shares of IDEAYA Biosciences in a report on Tuesday. Finally, Citizens Jmp restated a "market outperform" rating and set a $42.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, September 1st. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.87.

IDEAYA Biosciences Trading Down 0.3%

IDYA stock opened at $39.86 on Friday. The firm has a 50 day moving average of $37.60 and a 200-day moving average of $33.45. The firm has a market capitalization of $3.50 billion, a P/E ratio of -20.55 and a beta of -0.07. IDEAYA Biosciences, Inc. has a 12 month low of $23.23 and a 12 month high of $42.68.

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 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 analysts' expectations of $8.02 million. During the same quarter in the prior year, the company earned ($0.88) earnings per share. The business's revenue for the quarter was up 8800.0% compared to the same quarter last year. Sell-side analysts predict that IDEAYA Biosciences, Inc. will post -4.38 EPS for the current year.

IDEAYA Biosciences 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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