IDEAYA Biosciences, Inc. $IDYA Stake Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 715,906 shares of the company’s stock after selling 18,429 shares during the quarter. Pictet Asset Management Holding SA’s holdings in IDEAYA Biosciences were worth $23,854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IDYA. Iron Triangle Partners LP acquired a new stake in IDEAYA Biosciences during the 3rd quarter worth about $7,347,000. Cinctive Capital Management LP grew its position in IDEAYA Biosciences by 193.9% during the third quarter. Cinctive Capital Management LP now owns 49,946 shares of the company’s stock valued at $1,359,000 after purchasing an additional 32,953 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in IDEAYA Biosciences during the third quarter valued at approximately $1,023,000. Baker BROS. Advisors LP increased its stake in IDEAYA Biosciences by 54.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock valued at $89,125,000 after buying an additional 1,156,716 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in IDEAYA Biosciences in the 3rd quarter valued at approximately $1,151,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Price Performance

NASDAQ IDYA opened at $36.17 on Thursday. IDEAYA Biosciences, Inc. has a fifty-two week low of $20.96 and a fifty-two week high of $39.28. The stock’s 50-day moving average is $30.38 and its two-hundred day moving average is $32.40. The firm has a market cap of $3.18 billion, a P/E ratio of -22.61 and a beta of -0.09.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The firm had revenue of $6.56 million during the quarter, compared to the consensus estimate of $5.04 million. During the same period in the previous year, the business posted ($0.82) EPS. The business’s quarterly revenue was down 39.4% compared to the same quarter last year. On average, equities analysts expect that IDEAYA Biosciences, Inc. will post -4.13 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Tuesday, April 21st. Wells Fargo & Company raised their price target on IDEAYA Biosciences from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Wedbush reiterated an “outperform” rating and set a $58.00 price target on shares of IDEAYA Biosciences in a report on Friday, June 12th. Mizuho lowered their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded IDEAYA Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Fifteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.69.

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.