Seven Fleet Capital Management LP Invests $2.88 Million in IDEAYA Biosciences, Inc. $IDYA

Seven Fleet Capital Management LP bought a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 86,283 shares of the company’s stock, valued at approximately $2,875,000. IDEAYA Biosciences makes up about 0.9% of Seven Fleet Capital Management LP’s holdings, making the stock its 24th biggest holding.

Several other hedge funds have also modified their holdings of the stock. Royal Bank of Canada lifted its position in IDEAYA Biosciences by 30.1% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in IDEAYA Biosciences by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company’s stock valued at $938,000 after acquiring an additional 4,308 shares in the last quarter. Millennium Management LLC grew its position in IDEAYA Biosciences by 345.2% in the first quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock valued at $8,970,000 after acquiring an additional 424,625 shares in the last quarter. American Century Companies Inc. raised its stake in shares of IDEAYA Biosciences by 862.7% during the second quarter. American Century Companies Inc. now owns 114,644 shares of the company’s stock valued at $2,410,000 after purchasing an additional 102,736 shares during the period. Finally, Norges Bank purchased a new stake in shares of IDEAYA Biosciences during the second quarter valued at approximately $643,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Price Performance

Shares of IDYA opened at $35.50 on Friday. The stock has a market capitalization of $3.12 billion, a PE ratio of -22.19 and a beta of -0.09. The business’s fifty day moving average price is $33.69 and its 200 day moving average price is $32.68. IDEAYA Biosciences, Inc. has a 12-month low of $22.09 and a 12-month high of $40.58.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The business had revenue of $6.56 million for the quarter, compared to analysts’ expectations of $5.04 million. IDEAYA Biosciences’s revenue was down 39.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.82) EPS. As a group, research analysts anticipate that IDEAYA Biosciences, Inc. will post -4.1 earnings per share for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IDYA shares. Truist Financial reduced their target price on shares of IDEAYA Biosciences from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Wedbush reaffirmed an “outperform” rating and set a $58.00 price target on shares of IDEAYA Biosciences in a research note on Friday, June 12th. The Goldman Sachs Group boosted 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. Finally, Wall Street Zen raised shares of IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.25.

IDEAYA Biosciences Company Profile

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.