IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. has significantly reduced its stake in IDEAYA Biosciences by 87.3%, selling 297,763 shares in the first quarter and now holding 43,300 shares valued at $709,000.
• Other hedge funds are actively adjusting their positions, with Janus Henderson Group increasing their stake by 13.5%, bringing their total to 5,857,639 shares valued at $150.6 million.
• Analysts have mixed sentiments, with the stock rated as a "Moderate Buy" and price targets varying from $25.00 to $72.00, indicating optimistic growth potential for IDEAYA Biosciences.

Victory Capital Management Inc. cut its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 87.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,300 shares of the company's stock after selling 297,763 shares during the quarter. Victory Capital Management Inc.'s holdings in IDEAYA Biosciences were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC raised its stake in shares of IDEAYA Biosciences by 374.8% in the 1st quarter. Signaturefd LLC now owns 2,877 shares of the company's stock valued at $47,000 after acquiring an additional 2,271 shares during the period. CWM LLC raised its position in IDEAYA Biosciences by 325.7% in the first quarter. CWM LLC now owns 2,371 shares of the company's stock valued at $39,000 after purchasing an additional 1,814 shares during the period. WCM Investment Management LLC grew its stake in shares of IDEAYA Biosciences by 0.9% in the first quarter. WCM Investment Management LLC now owns 244,081 shares of the company's stock valued at $4,162,000 after buying an additional 2,187 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of IDEAYA Biosciences by 33.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,560 shares of the company's stock valued at $189,000 after buying an additional 2,884 shares during the period. Finally, Palumbo Wealth Management LLC lifted its stake in IDEAYA Biosciences by 65.8% during the 1st quarter. Palumbo Wealth Management LLC now owns 22,402 shares of the company's stock worth $367,000 after acquiring an additional 8,893 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on IDYA. TD Cowen began coverage on shares of IDEAYA Biosciences in a research note on Tuesday, July 22nd. They set 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 target for the stock from $57.00 to $30.00 in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of IDEAYA Biosciences from $66.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Wells Fargo & Company began coverage on shares of IDEAYA Biosciences in a research note on Thursday, June 26th. They set an "overweight" rating and a $44.00 price target on the stock. Finally, The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 price target on the stock in a research report on Thursday, July 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.09.

IDEAYA Biosciences Price Performance

Shares of IDYA traded up $0.73 during mid-day trading on Monday, reaching $25.00. The company's stock had a trading volume of 1,311,591 shares, compared to its average volume of 1,161,646. IDEAYA Biosciences, Inc. has a 12-month low of $13.45 and a 12-month high of $40.74. The stock has a market cap of $2.19 billion, a PE ratio of -6.96 and a beta of 0.09. The company's 50 day moving average is $22.07 and its 200 day moving average is $20.31.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.07). During the same period in the previous year, the firm posted ($0.53) earnings per share. As a group, sell-side analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal 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.