MPM Bioimpact LLC Purchases 16,126 Shares of IDEAYA Biosciences, Inc. $IDYA

Key Points

• MPM Bioimpact LLC increased its stake in IDEAYA Biosciences by 3.9%, acquiring 16,126 additional shares and now owns approximately 0.49% of the company valued at $7,046,000.
• IDEAYA Biosciences reported a quarterly loss of ($0.88) EPS, missing analysts' expectations but exceeding revenue estimates by generating $6.00 million in revenue.
• Equities research analysts have generally rated the stock positively, with an average price target of $47.10 and most analysts suggesting a "Buy" or "Moderate Buy" rating.

MPM Bioimpact LLC lifted its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 430,161 shares of the company's stock after purchasing an additional 16,126 shares during the quarter. MPM Bioimpact LLC owned about 0.49% of IDEAYA Biosciences worth $7,046,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of IDEAYA Biosciences in the first quarter worth about $3,119,000. Royal Bank of Canada increased its stake in IDEAYA Biosciences by 30.1% during the first quarter. Royal Bank of Canada now owns 122,460 shares of the company's stock worth $2,006,000 after acquiring an additional 28,322 shares during the last quarter. DAFNA Capital Management LLC increased its stake in IDEAYA Biosciences by 18.1% during the first quarter. DAFNA Capital Management LLC now owns 589,330 shares of the company's stock worth $9,653,000 after acquiring an additional 90,503 shares during the last quarter. Tema Etfs LLC increased its stake in IDEAYA Biosciences by 249.8% during the first quarter. Tema Etfs LLC now owns 56,204 shares of the company's stock worth $921,000 after acquiring an additional 40,138 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in IDEAYA Biosciences during the first quarter worth approximately $508,000. 98.29% of the stock is owned by institutional investors.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA opened at $24.55 on Tuesday. The firm has a market capitalization of $2.15 billion, a PE ratio of -6.48 and a beta of 0.12. The business has a 50 day simple moving average of $23.33 and a two-hundred day simple moving average of $20.49. IDEAYA Biosciences, Inc. has a 1 year low of $13.45 and a 1 year high of $40.25.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 price objective on the stock in a research note on Thursday, July 10th. TD Cowen assumed coverage on IDEAYA Biosciences in a research note on Tuesday, July 22nd. They set a "buy" rating on the stock. Wells Fargo & Company assumed coverage on IDEAYA Biosciences in a research note on Thursday, June 26th. They set an "overweight" rating and a $44.00 price objective on the stock. Royal Bank Of Canada raised IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and reduced their price objective for the stock from $57.00 to $30.00 in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on IDEAYA Biosciences from $66.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, IDEAYA Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $47.10.

IDEAYA Biosciences Company 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.

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