Trexquant Investment LP Has $816,000 Stock Holdings in IDEAYA Biosciences, Inc. $IDYA

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 reduced its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 53.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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.

Several other institutional investors and hedge funds have also made changes to their positions in IDYA. Janus Henderson Group PLC lifted its position in IDEAYA Biosciences by 13.5% during the fourth quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company's stock valued at $150,606,000 after purchasing an additional 695,263 shares during the period. MPM Bioimpact LLC purchased a new stake in shares of IDEAYA Biosciences during the fourth quarter worth about $10,641,000. Algert Global LLC purchased a new stake in shares of IDEAYA Biosciences in the first quarter valued at approximately $5,024,000. Nuveen LLC purchased a new stake in shares of IDEAYA Biosciences in the first quarter valued at approximately $4,706,000. Finally, General American Investors Co. Inc. boosted its holdings in IDEAYA Biosciences by 116.4% in the 1st quarter. General American Investors Co. Inc. now owns 260,261 shares of the company's stock valued at $4,263,000 after purchasing an additional 140,000 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Stock Up 0.4%

Shares of NASDAQ:IDYA traded up $0.11 on Thursday, reaching $24.82. 1,009,689 shares of the company's stock were exchanged, compared to its average volume of 1,156,945. The business's 50-day moving average is $23.84 and its two-hundred day moving average is $20.70. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -6.55 and a beta of 0.12. IDEAYA Biosciences, Inc. has a fifty-two week low of $13.45 and a fifty-two week high of $37.80.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced 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 company had revenue of $6.00 million for the quarter, compared to analysts' expectations of $3.48 million. The firm's quarterly revenue was up NaN% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.68) EPS. Analysts predict that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Oppenheimer set a $36.00 price objective on shares of IDEAYA Biosciences and gave the stock an "outperform" rating in a report on Monday. TD Cowen initiated coverage on shares of IDEAYA Biosciences in a research report on Tuesday, July 22nd. They set a "buy" rating on the stock. Citizens Jmp assumed coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They issued a "mkt outperform" rating and a $41.00 price target for the company. The Goldman Sachs Group upgraded shares of IDEAYA Biosciences to a "hold" rating and set a $25.00 target price for the company in a research report on Thursday, July 10th. Finally, Barclays began coverage on shares of IDEAYA Biosciences in a research note on Thursday, September 4th. They set an "overweight" rating and a $40.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.75.

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.