Millennium Management LLC Sells 219,069 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Millennium Management LLC cut its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 64.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,012 shares of the company's stock after selling 219,069 shares during the period. Millennium Management LLC owned 0.14% of IDEAYA Biosciences worth $3,161,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in IDEAYA Biosciences by 13.5% in the fourth 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 during the period. Norges Bank acquired a new position in shares of IDEAYA Biosciences during the 4th quarter worth $13,385,000. FMR LLC raised its stake in shares of IDEAYA Biosciences by 2.6% during the 4th quarter. FMR LLC now owns 12,963,151 shares of the company's stock worth $333,153,000 after buying an additional 327,498 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of IDEAYA Biosciences by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company's stock worth $130,507,000 after buying an additional 282,936 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in shares of IDEAYA Biosciences during the 4th quarter worth $6,030,000. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Trading Up 2.0%

IDYA traded up $0.43 during midday trading on Tuesday, hitting $21.65. The company's stock had a trading volume of 878,300 shares, compared to its average volume of 1,202,449. The firm has a market cap of $1.90 billion, a P/E ratio of -6.56 and a beta of 0.26. The firm has a 50-day moving average price of $17.85 and a two-hundred day moving average price of $21.37. IDEAYA Biosciences, Inc. has a 52-week low of $13.45 and a 52-week high of $44.42.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.07). During the same quarter in the prior year, the business earned ($0.53) earnings per share. On average, equities analysts expect that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Wall Street Analysts Forecast Growth

IDYA has been the subject of several research reports. Stephens reaffirmed an "overweight" rating and set a $50.00 price target on shares of IDEAYA Biosciences in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on IDEAYA Biosciences from $63.00 to $66.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $54.27.

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.