Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 59,780 IDEAYA Biosciences, Inc. $IDYA

Key Points

• Mitsubishi UFJ Asset Management acquired 59,780 shares of IDEAYA Biosciences worth approximately $2.23 million, representing a 0.07% stake. Institutional investors and hedge funds collectively own 98.29% of the company.
• IDEAYA shares opened at $39.67, near their 12-month high of $40.58, and have risen 1.4%. The company reported quarterly revenue of $8.86 million, up 8,800% year over year, but missed earnings expectations with a loss of $1.22 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $50.12, despite some firms maintaining sell ratings or lowering their targets.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 59,780 shares of the company's stock, valued at approximately $2,228,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of IDEAYA Biosciences at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GSK plc bought a new stake in shares of IDEAYA Biosciences in the 4th quarter valued at about $46,093,000. State Street Corp grew its holdings in IDEAYA Biosciences by 27.6% during the fourth quarter. State Street Corp now owns 4,134,641 shares of the company's stock worth $142,935,000 after purchasing an additional 893,707 shares during the period. Janus Henderson Group PLC increased its position in IDEAYA Biosciences by 11.8% during the fourth quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company's stock worth $248,344,000 after buying an additional 758,117 shares during the last quarter. First Turn Management LLC acquired a new position in IDEAYA Biosciences during the fourth quarter worth approximately $25,017,000. Finally, Fiera Capital Corp raised its stake in IDEAYA Biosciences by 32.6% in the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company's stock valued at $84,256,000 after buying an additional 599,295 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Stock Up 1.4%

Shares of IDYA stock opened at $39.67 on Friday. IDEAYA Biosciences, Inc. has a 12-month low of $23.23 and a 12-month high of $40.58. The company has a market capitalization of $3.49 billion, a PE ratio of -20.45 and a beta of -0.10. The firm has a 50 day moving average price of $36.14 and a two-hundred day moving average price of $32.88.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted 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). The firm 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%. IDEAYA Biosciences's revenue for the quarter was up 8800.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.88) EPS. As a group, research analysts expect that IDEAYA Biosciences, Inc. will post -4.38 EPS for the current year.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of the company's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the transaction, the chief accounting officer directly owned 26,466 shares of the company's stock, valued at $1,058,904.66. This represents a 26.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IDYA. Wall Street Zen cut IDEAYA Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Mizuho decreased their target price on IDEAYA Biosciences from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, May 7th. Citigroup restated a "market outperform" rating on shares of IDEAYA Biosciences in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Finally, Truist Financial reduced their price objective on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, IDEAYA Biosciences currently has a consensus 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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