IDEAYA Biosciences, Inc. $IDYA Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP has reduced its stake in IDEAYA Biosciences by 53.5%, currently holding 49,824 shares worth approximately $816,000.
• Several institutional investors, including Oppenheimer and Palumbo Wealth Management, have increased their holdings in IDEAYA, highlighting a trend in investor interest.
• Despite a reported loss of ($0.88) earnings per share, IDEAYA's revenue surpassed expectations at $6 million for the quarter, up from previous estimates.

Trexquant Investment LP decreased its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 53.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,824 shares of the company's stock after selling 57,323 shares during the period. Trexquant Investment LP owned approximately 0.06% of IDEAYA Biosciences worth $816,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CWM LLC boosted its stake in shares of IDEAYA Biosciences by 325.7% during the first quarter. CWM LLC now owns 2,371 shares of the company's stock worth $39,000 after buying an additional 1,814 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of IDEAYA Biosciences by 180.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company's stock worth $39,000 after buying an additional 1,546 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of IDEAYA Biosciences during the fourth quarter worth about $47,000. Signaturefd LLC boosted its stake 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 buying an additional 2,271 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of IDEAYA Biosciences by 46.4% during the first quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company's stock worth $109,000 after buying an additional 2,112 shares during the period. Institutional investors and hedge funds own 98.29% of the company's stock.

IDEAYA Biosciences Price Performance

Shares of IDYA stock traded down $0.32 during midday trading on Friday, reaching $24.61. 1,047,343 shares of the company traded hands, compared to its average volume of 1,194,808. The firm's 50 day simple moving average is $23.94 and its two-hundred day simple moving average is $20.75. IDEAYA Biosciences, Inc. has a 1-year low of $13.45 and a 1-year high of $37.80. The firm has a market cap of $2.16 billion, a PE ratio of -6.49 and a beta of 0.12.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted 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 firm had revenue of $6.00 million for the quarter, compared to the consensus estimate of $3.48 million. During the same period last year, the firm posted ($0.68) EPS. The company's revenue for the quarter was up NaN% on a year-over-year basis. As a group, research analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IDYA. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a research report on Tuesday. Citizens Jmp began coverage on shares of IDEAYA Biosciences in a research report on Thursday, September 4th. They issued a "mkt outperform" rating and a $41.00 price objective for the company. TD Cowen began coverage on shares of IDEAYA Biosciences in a research report on Tuesday, July 22nd. They issued a "buy" rating for the company. Stephens restated an "overweight" rating and issued a $45.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday. Finally, Oppenheimer set a $36.00 price objective on shares of IDEAYA Biosciences and gave the company an "outperform" rating in a research report on Monday. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.85.

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.