Price T Rowe Associates Inc. MD Sells 391,286 Shares of IDEAYA Biosciences, Inc. $IDYA

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in IDEAYA Biosciences by 10.1%, owning approximately 3.97% of the company after selling over 391,000 shares in the first quarter.
• Institutional investors and hedge funds now hold 98.29% of IDEAYA Biosciences’ stock, indicating strong institutional interest in the company.
• Recent analyst reports have given IDEAYA Biosciences diverse ratings, with nine "Buy" ratings and three "Hold" ratings, reflecting optimism about the stock with a current average target price of $47.10.

Price T Rowe Associates Inc. MD lowered its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 10.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,475,622 shares of the company's stock after selling 391,286 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.97% of IDEAYA Biosciences worth $56,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its position in IDEAYA Biosciences by 325.7% in the 1st quarter. CWM LLC now owns 2,371 shares of the company's stock worth $39,000 after purchasing an additional 1,814 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in IDEAYA Biosciences by 180.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company's stock valued at $39,000 after buying an additional 1,546 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of IDEAYA Biosciences in the 4th quarter valued at $47,000. Signaturefd LLC raised its position in shares of IDEAYA Biosciences by 374.8% during the first quarter. Signaturefd LLC now owns 2,877 shares of the company's stock worth $47,000 after acquiring an additional 2,271 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in IDEAYA Biosciences by 46.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company's stock worth $109,000 after purchasing an additional 2,112 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company's stock.

Wall Street Analysts Forecast Growth

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

IDEAYA Biosciences Stock Down 1.5%

IDEAYA Biosciences stock traded down $0.38 during mid-day trading on Friday, hitting $24.55. 632,810 shares of the company's stock were exchanged, compared to its average volume of 877,057. The company's 50 day simple moving average is $23.21 and its 200-day simple moving average is $20.45. The firm has a market capitalization of $2.15 billion, a P/E ratio of -6.48 and a beta of 0.09. IDEAYA Biosciences, Inc. has a fifty-two week low of $13.45 and a fifty-two week high of $40.25.

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

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.