Deerfield Management Company L.P. Series C Buys 142,000 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Deerfield Management Company L.P. Series C grew its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,736,000 shares of the company's stock after buying an additional 142,000 shares during the quarter. IDEAYA Biosciences accounts for approximately 1.3% of Deerfield Management Company L.P. Series C's holdings, making the stock its 20th biggest holding. Deerfield Management Company L.P. Series C owned 3.17% of IDEAYA Biosciences worth $70,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDYA. R Squared Ltd acquired a new stake in shares of IDEAYA Biosciences during the 4th quarter worth about $35,000. Daiwa Securities Group Inc. increased its stake in shares of IDEAYA Biosciences by 44.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company's stock valued at $72,000 after buying an additional 853 shares in the last quarter. KBC Group NV raised its holdings in shares of IDEAYA Biosciences by 84.6% in the fourth quarter. KBC Group NV now owns 4,197 shares of the company's stock valued at $108,000 after buying an additional 1,923 shares during the last quarter. Cibc World Markets Corp acquired a new position in IDEAYA Biosciences during the 4th quarter worth about $203,000. Finally, Mariner LLC grew its holdings in IDEAYA Biosciences by 9.8% during the 4th quarter. Mariner LLC now owns 9,775 shares of the company's stock worth $251,000 after acquiring an additional 869 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

IDEAYA Biosciences Price Performance

IDYA stock traded down $0.83 during trading hours on Tuesday, reaching $17.52. 254,660 shares of the stock were exchanged, compared to its average volume of 988,969. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -5.31 and a beta of 0.26. The firm's 50-day moving average is $17.72 and its 200-day moving average is $22.51. IDEAYA Biosciences, Inc. has a 12 month low of $13.45 and a 12 month high of $44.42.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.07). During the same period in the previous year, the business earned ($0.53) earnings per share. As a group, equities research analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stephens restated an "overweight" rating and issued a $50.00 price target on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.58.

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.