IDEAYA Biosciences, Inc. $IDYA Shares Sold by Redmile Group LLC

Key Points

• Redmile Group LLC reduced its stake in IDEAYA Biosciences by 13.7%, now holding 534,600 shares after selling 84,700 shares in the first quarter.
• IDEAYA stock saw a 1.5% decline, opening at $24.55, despite the company reporting higher revenue of $6 million but missing EPS estimates for the latest quarter.
• Analysts have a consensus rating of "Moderate Buy" for IDEAYA Biosciences, with price targets ranging from $25.00 to $72.00, reflecting mixed outlooks for the stock.

Redmile Group LLC lowered its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 13.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 534,600 shares of the company's stock after selling 84,700 shares during the quarter. IDEAYA Biosciences accounts for about 0.8% of Redmile Group LLC's portfolio, making the stock its 25th largest position. Redmile Group LLC owned about 0.61% of IDEAYA Biosciences worth $8,757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in IDEAYA Biosciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,483 shares of the company's stock worth $123,000 after buying an additional 627 shares during the period. Mariner LLC boosted its holdings in shares of IDEAYA Biosciences by 9.8% in the 4th quarter. Mariner LLC now owns 9,775 shares of the company's stock valued at $251,000 after buying an additional 869 shares in the last quarter. Swiss National Bank boosted its holdings in shares of IDEAYA Biosciences by 0.8% in the 1st quarter. Swiss National Bank now owns 150,800 shares of the company's stock valued at $2,470,000 after buying an additional 1,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of IDEAYA Biosciences by 6.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,301 shares of the company's stock valued at $349,000 after buying an additional 1,214 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 98.29% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on IDYA. Wells Fargo & Company began coverage on shares of IDEAYA Biosciences in a research note on Thursday, June 26th. They issued an "overweight" rating and a $44.00 target price for the company. TD Cowen initiated coverage on shares of IDEAYA Biosciences in a research note on Tuesday, July 22nd. They issued a "buy" rating for the company. Citizens Jmp initiated coverage on shares of IDEAYA Biosciences in a research report on Thursday. They set a "mkt outperform" rating and a $41.00 price target for the company. Citigroup initiated coverage on shares of IDEAYA Biosciences in a research report on Thursday. They set an "outperform" rating for the company. Finally, Barclays initiated coverage on shares of IDEAYA Biosciences in a research report on Thursday. They set an "overweight" rating and a $40.00 price target for the company. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.77.

IDEAYA Biosciences Trading Up 5.1%

NASDAQ IDYA traded up $1.33 during trading hours on Friday, reaching $27.16. The company had a trading volume of 1,643,489 shares, compared to its average volume of 909,753. The stock has a 50-day moving average of $23.66 and a 200 day moving average of $20.64. IDEAYA Biosciences, Inc. has a 1-year low of $13.45 and a 1-year high of $37.99. The stock has a market capitalization of $2.38 billion, a P/E ratio of -7.17 and a beta of 0.12.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its 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 business had revenue of $6.00 million for the quarter, compared to the consensus estimate of $3.48 million. During the same quarter in the previous year, the business posted ($0.68) EPS. The firm's quarterly revenue was up NaN% compared to the same quarter last year. As a group, sell-side analysts predict that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

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.