IDEAYA Biosciences, Inc. $IDYA Shares Sold by Woodline Partners LP

Key Points

• Woodline Partners LP has reduced its stake in IDEAYA Biosciences by 46.6% in the first quarter, now owning 315,372 shares valued at approximately $5.17 million.
• IDEAYA recently reported a quarterly earnings miss, with earnings per share at ($0.88), falling short of analysts' expectations, although revenue exceeded estimates at $6.00 million.
• Analysts have generally rated IDEAYA Biosciences positively, with an average rating of "Moderate Buy" and a consensus price target of $42.85.

Woodline Partners LP decreased its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 46.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,372 shares of the company's stock after selling 275,325 shares during the period. Woodline Partners LP owned about 0.36% of IDEAYA Biosciences worth $5,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its position 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 valued at $189,000 after buying an additional 2,884 shares in the last quarter. Rhumbline Advisers lifted its holdings in IDEAYA Biosciences by 9.6% in the 1st quarter. Rhumbline Advisers now owns 124,437 shares of the company's stock valued at $2,038,000 after purchasing an additional 10,876 shares in the last quarter. Palumbo Wealth Management LLC lifted its holdings in IDEAYA Biosciences by 65.8% in the 1st quarter. Palumbo Wealth Management LLC now owns 22,402 shares of the company's stock valued at $367,000 after purchasing an additional 8,893 shares in the last quarter. Swiss National Bank lifted its holdings in IDEAYA Biosciences by 0.8% in the 1st quarter. Swiss National Bank now owns 150,800 shares of the company's stock valued at $2,470,000 after purchasing an additional 1,200 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in IDEAYA Biosciences in the 1st quarter valued at $195,000. Hedge funds and other institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA traded up $1.19 during midday trading on Thursday, reaching $25.63. 370,734 shares of the company's stock were exchanged, compared to its average volume of 1,148,090. The firm's 50 day simple moving average is $24.11 and its two-hundred day simple moving average is $20.83. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -6.75 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 $36.70.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $3.48 million. The company's revenue was up NaN% on a year-over-year basis. During the same period last year, the firm earned ($0.68) earnings per share. Equities research analysts predict that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IDYA. Citizens Jmp began coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They issued a "mkt outperform" rating and a $41.00 price objective on the stock. Wells Fargo & Company began coverage on IDEAYA Biosciences in a report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price objective on the stock. Barclays began coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They issued an "overweight" rating and a $40.00 price objective on the stock. Citigroup restated a "buy" rating on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Finally, JMP Securities began coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They issued a "market outperform" rating and a $41.00 price objective on the stock. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, IDEAYA Biosciences has an average rating of "Moderate Buy" and an average target price of $43.36.

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.