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. trimmed 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 institutional investor owned 43,300 shares of the company's stock after selling 297,763 shares during the period. Victory Capital Management Inc.'s holdings in IDEAYA Biosciences were worth $709,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IDYA. CWM LLC grew its holdings in IDEAYA Biosciences by 325.7% during the 1st quarter. CWM LLC now owns 2,371 shares of the company's stock valued at $39,000 after buying an additional 1,814 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of IDEAYA Biosciences during the 4th quarter worth $47,000. Signaturefd LLC lifted its stake in shares of IDEAYA Biosciences by 374.8% during the 1st quarter. Signaturefd LLC now owns 2,877 shares of the company's stock worth $47,000 after purchasing an additional 2,271 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of IDEAYA Biosciences by 46.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company's stock worth $109,000 after purchasing an additional 2,112 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of IDEAYA Biosciences by 33.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,560 shares of the company's stock worth $189,000 after purchasing an additional 2,884 shares during the period. 98.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on IDEAYA Biosciences from $66.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Royal Bank Of Canada raised IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and cut their target price for the stock from $57.00 to $30.00 in a research report on Wednesday, July 9th. The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 price objective on the stock in a research report on Thursday, July 10th. Wells Fargo & Company started coverage on IDEAYA Biosciences in a research report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price objective on the stock. Finally, TD Cowen assumed coverage on IDEAYA Biosciences in a research report on Tuesday, July 22nd. They issued a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.09.

IDEAYA Biosciences Stock Down 4.2%

IDYA stock traded down $1.01 during midday trading on Wednesday, reaching $23.11. The company had a trading volume of 269,429 shares, compared to its average volume of 1,158,533. The stock has a 50 day moving average price of $22.29 and a 200 day moving average price of $20.36. IDEAYA Biosciences, Inc. has a fifty-two week low of $13.45 and a fifty-two week high of $40.74. The firm has a market capitalization of $2.02 billion, a PE ratio of -6.45 and a beta of 0.09.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.03). The firm had revenue of $6.00 million during the quarter, compared to the consensus estimate of $3.48 million. The company's revenue was up NaN% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.68) earnings per share. Research 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.