IDEAYA Biosciences, Inc. $IDYA Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. lessened its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 27.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,604 shares of the company’s stock after selling 46,313 shares during the period. Platinum Investment Management Ltd. owned approximately 0.14% of IDEAYA Biosciences worth $4,169,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IDYA. Royal Bank of Canada increased its holdings in shares of IDEAYA Biosciences by 30.1% in the 1st quarter. Royal Bank of Canada now owns 122,460 shares of the company’s stock worth $2,006,000 after acquiring an additional 28,322 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of IDEAYA Biosciences by 8.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company’s stock worth $938,000 after acquiring an additional 4,308 shares during the period. Millennium Management LLC increased its holdings in shares of IDEAYA Biosciences by 345.2% in the 1st quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock worth $8,970,000 after acquiring an additional 424,625 shares during the period. American Century Companies Inc. increased its holdings in shares of IDEAYA Biosciences by 862.7% in the 2nd quarter. American Century Companies Inc. now owns 114,644 shares of the company’s stock worth $2,410,000 after acquiring an additional 102,736 shares during the period. Finally, Norges Bank acquired a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth about $643,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Wedbush reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of IDEAYA Biosciences in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Tuesday, April 21st. Wall Street Zen raised shares of IDEAYA Biosciences from a “sell” rating to a “hold” rating in a report on Saturday. Finally, The Goldman Sachs Group increased their price objective on shares of IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.69.

IDEAYA Biosciences Stock Up 0.5%

Shares of IDYA opened at $28.98 on Friday. The firm has a 50-day moving average price of $29.89 and a 200 day moving average price of $32.49. The firm has a market capitalization of $2.55 billion, a PE ratio of -18.11 and a beta of -0.05. IDEAYA Biosciences, Inc. has a 52-week low of $20.50 and a 52-week high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The company had revenue of $6.56 million for the quarter, compared to analysts’ expectations of $5.04 million. The firm’s quarterly revenue was down 39.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.82) EPS. On average, equities analysts expect that IDEAYA Biosciences, Inc. will post -4.27 EPS for the current year.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.