DekaBank Deutsche Girozentrale Purchases 38,700 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Posted by Defense World Staff on Oct 15th, 2023

DekaBank Deutsche Girozentrale increased its position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA – Free Report) by 342.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,000 shares of the company’s stock after buying an additional 38,700 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.09% of IDEAYA Biosciences worth $1,146,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IDYA. State Street Corp grew its holdings in shares of IDEAYA Biosciences by 28.2% during the third quarter. State Street Corp now owns 1,900,381 shares of the company’s stock worth $28,354,000 after buying an additional 418,227 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of IDEAYA Biosciences by 42.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,036,451 shares of the company’s stock worth $14,230,000 after buying an additional 309,135 shares in the last quarter. BVF Inc. IL grew its holdings in shares of IDEAYA Biosciences by 11.3% during the first quarter. BVF Inc. IL now owns 2,455,089 shares of the company’s stock worth $33,708,000 after buying an additional 250,000 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of IDEAYA Biosciences during the first quarter worth about $2,199,000. Finally, Millennium Management LLC bought a new position in shares of IDEAYA Biosciences during the fourth quarter worth about $3,387,000. 98.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IDYA shares. Wedbush increased their price objective on IDEAYA Biosciences from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, September 12th. The Goldman Sachs Group raised their price target on IDEAYA Biosciences from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, September 12th. Leerink Partnrs restated an “outperform” rating on shares of IDEAYA Biosciences in a research note on Tuesday, August 8th. SVB Securities assumed coverage on IDEAYA Biosciences in a research note on Tuesday, August 8th. They issued an “outperform” rating and a $33.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on IDEAYA Biosciences from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $32.08.

Read Our Latest Stock Analysis on IDYA

IDEAYA Biosciences Stock Down 8.5 %

IDYA opened at $24.99 on Friday. IDEAYA Biosciences, Inc. has a 12-month low of $13.29 and a 12-month high of $30.25. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -17.23 and a beta of 0.78. The business has a 50 day moving average of $27.15 and a 200-day moving average of $23.01.

IDEAYA Biosciences (NASDAQ:IDYA – Get Free Report) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.05. The business had revenue of $3.50 million during the quarter, compared to analysts’ expectations of $4.89 million. IDEAYA Biosciences had a negative return on equity of 19.09% and a negative net margin of 164.25%. The firm’s revenue was down 55.7% on a year-over-year basis. As a group, analysts expect that IDEAYA Biosciences, Inc. will post -2.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Paul A. Stone sold 2,500 shares of IDEAYA Biosciences stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.05, for a total transaction of $62,625.00. Following the completion of the sale, the chief financial officer now directly owns 19,303 shares of the company’s stock, valued at approximately $483,540.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Paul A. Stone sold 3,822 shares of IDEAYA Biosciences stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $26.38, for a total transaction of $100,824.36. Following the completion of the sale, the chief financial officer now directly owns 15,281 shares of the company’s stock, valued at approximately $403,112.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Paul A. Stone sold 2,500 shares of IDEAYA Biosciences stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.05, for a total value of $62,625.00. Following the sale, the chief financial officer now directly owns 19,303 shares of the company’s stock, valued at $483,540.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,337 shares of company stock valued at $609,580. Insiders own 5.10% of the company’s stock.

IDEAYA Biosciences Profile

(Free Report)

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's lead product candidates include IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase II clinical trial for patients with solid tumors having methylthioadenosine phosphorylase gene deletions; and IDE196, a protein kinase C inhibitor that is in Phase I/II clinical trial for genetically defined cancers having GNAQ or GNA11 gene mutations.