Price T Rowe Associates Inc. MD Raises Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Price T Rowe Associates Inc. MD raised its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,052,500 shares of the company’s stock after purchasing an additional 486,222 shares during the period. Price T Rowe Associates Inc. MD owned 5.35% of IDEAYA Biosciences worth $177,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Covestor Ltd grew its stake in shares of IDEAYA Biosciences by 9,225.0% during the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after buying an additional 1,107 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of IDEAYA Biosciences during the first quarter valued at approximately $67,000. SG Americas Securities LLC bought a new position in shares of IDEAYA Biosciences during the first quarter valued at approximately $101,000. AJOVista LLC bought a new position in IDEAYA Biosciences in the fourth quarter worth approximately $99,000. Finally, O Shaughnessy Asset Management LLC bought a new position in IDEAYA Biosciences in the first quarter worth approximately $214,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Oppenheimer increased their price objective on IDEAYA Biosciences from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. The Goldman Sachs Group dropped their price objective on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Royal Bank of Canada increased their price objective on IDEAYA Biosciences from $53.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on IDEAYA Biosciences from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Finally, Mizuho began coverage on IDEAYA Biosciences in a report on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective for the company. Fourteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, IDEAYA Biosciences currently has an average rating of “Buy” and a consensus price target of $52.92.

Insider Activity at IDEAYA Biosciences

In related news, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the transaction, the chief executive officer now owns 677,887 shares in the company, valued at approximately $28,206,878.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other IDEAYA Biosciences news, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total transaction of $1,032,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yujiro S. Hata sold 56,711 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total value of $2,359,744.71. Following the sale, the chief executive officer now owns 677,887 shares of the company’s stock, valued at $28,206,878.07. The disclosure for this sale can be found here. Insiders sold a total of 119,644 shares of company stock worth $4,832,228 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock traded up $0.30 on Monday, hitting $42.69. The company’s stock had a trading volume of 142,001 shares, compared to its average volume of 918,115. IDEAYA Biosciences, Inc. has a 1 year low of $21.22 and a 1 year high of $47.74. The firm has a fifty day moving average price of $38.34 and a 200-day moving average price of $41.27. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -21.09 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. During the same period in the previous year, the business posted ($0.49) earnings per share. The business’s revenue was down 100.0% compared to the same quarter last year. As a group, analysts forecast that IDEAYA Biosciences, Inc. will post -2.22 EPS for the current year.

About IDEAYA Biosciences

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.