Seven Fleet Capital Management LP Trims Position in IDEAYA Biosciences, Inc. $IDYA

Key Points

• Seven Fleet Capital Management cut its IDEAYA Biosciences stake by 56.1% in the second quarter, selling 48,418 shares and retaining 37,865 shares valued at approximately $1.41 million.
• Institutional activity was mixed, with several funds initiating or expanding positions; hedge funds and other institutions now own 98.29% of IDEAYA’s shares.
• IDEAYA shares opened at $39.86, while the company reported a quarterly loss of $1.22 per share, missing estimates, despite revenue of $8.86 million. Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $50.87.

Seven Fleet Capital Management LP lowered its position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 56.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,865 shares of the company's stock after selling 48,418 shares during the quarter. Seven Fleet Capital Management LP's holdings in IDEAYA Biosciences were worth $1,411,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IDYA. Bank of America Corp DE acquired a new position in IDEAYA Biosciences in the 2nd quarter valued at $38,244,000. Freestone Grove Partners LP acquired a new stake in shares of IDEAYA Biosciences during the second quarter worth $141,000. Odyssean LLC grew its position in shares of IDEAYA Biosciences by 571.6% in the second quarter. Odyssean LLC now owns 102,582 shares of the company's stock valued at $3,823,000 after purchasing an additional 87,308 shares during the period. Man Group plc acquired a new position in IDEAYA Biosciences in the second quarter valued at $9,149,000. Finally, Jupiter Topco LLC acquired a new position in IDEAYA Biosciences in the second quarter valued at $319,728,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Trading Down 0.3%

IDYA opened at $39.86 on Friday. IDEAYA Biosciences, Inc. has a twelve month low of $23.23 and a twelve month high of $42.68. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -20.55 and a beta of -0.07. The company has a fifty day simple moving average of $37.60 and a 200 day simple moving average of $33.45.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($1.22) EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 16.73% and a negative net margin of 75.93%.The business's quarterly revenue was up 8800.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.88) EPS. On average, analysts forecast that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Andres Ruiz Briseno sold 9,550 shares of the business's stock in a transaction dated 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 owned 26,466 shares in the company, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup restated a "market outperform" rating on shares of IDEAYA Biosciences in a report on Tuesday. Citizens Jmp reissued a "market outperform" rating and issued a $42.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday. Wedbush upped their price target on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Finally, Royal Bank Of Canada lowered their price objective on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, IDEAYA Biosciences presently has an average rating of "Moderate Buy" and an average price target of $50.87.

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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