Renaissance Technologies LLC Grows Stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Renaissance Technologies LLC boosted its stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 66.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 284,267 shares of the company's stock after acquiring an additional 113,902 shares during the period. Renaissance Technologies LLC owned 0.33% of IDEAYA Biosciences worth $7,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IDYA. Rhumbline Advisers boosted its position in shares of IDEAYA Biosciences by 0.5% during the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company's stock valued at $2,919,000 after purchasing an additional 585 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in IDEAYA Biosciences by 44.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company's stock worth $72,000 after acquiring an additional 853 shares in the last quarter. Assetmark Inc. increased its stake in shares of IDEAYA Biosciences by 2.5% during the fourth quarter. Assetmark Inc. now owns 45,269 shares of the company's stock valued at $1,163,000 after purchasing an additional 1,084 shares in the last quarter. R Squared Ltd bought a new stake in shares of IDEAYA Biosciences in the 4th quarter worth approximately $35,000. Finally, NEOS Investment Management LLC increased its position in IDEAYA Biosciences by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 16,066 shares of the company's stock valued at $413,000 after buying an additional 1,577 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Price Performance

IDYA stock traded down $0.11 during mid-day trading on Thursday, reaching $18.71. The company had a trading volume of 142,530 shares, compared to its average volume of 948,153. The company has a market capitalization of $1.64 billion, a PE ratio of -5.66 and a beta of 0.51. The firm has a 50 day moving average of $18.07 and a 200 day moving average of $23.61. 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 issued its earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The business had revenue of $7.00 million for the quarter, compared to the consensus estimate of $7.00 million. Analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IDYA. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price target on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Finally, Stephens reaffirmed an "overweight" rating and issued a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Two 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.