Insider Buying: IDEAYA Biosciences (NASDAQ:IDYA) Director Buys 50,000 Shares of Stock

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Director Jeffrey Stein bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the transaction, the director owned 54,281 shares of the company’s stock, valued at $1,789,101.76. The trade was a 1,167.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

IDEAYA Biosciences Trading Up 2.6%

IDYA traded up $0.84 during trading on Monday, hitting $33.04. 857,241 shares of the company traded hands, compared to its average volume of 811,023. The company has a market cap of $2.90 billion, a PE ratio of -25.22 and a beta of 0.09. The stock’s 50-day simple moving average is $34.04 and its two-hundred day simple moving average is $30.91. IDEAYA Biosciences, Inc. has a 1 year low of $13.45 and a 1 year high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.09. The firm had revenue of $21.75 million for the quarter, compared to analysts’ expectations of $5.95 million. The company’s revenue for the quarter was up 55.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.49) EPS. Equities analysts expect that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Mizuho increased their price objective on shares of IDEAYA Biosciences from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Wedbush boosted their target price on shares of IDEAYA Biosciences from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Guggenheim restated a “buy” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Thursday, January 22nd. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.69.

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently bought and sold shares of the stock. GSK plc purchased a new position in shares of IDEAYA Biosciences in the 4th quarter valued at $46,093,000. Baker BROS. Advisors LP boosted its position in IDEAYA Biosciences by 54.6% during the third quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock valued at $89,125,000 after purchasing an additional 1,156,716 shares in the last quarter. State Street Corp boosted its position in IDEAYA Biosciences by 27.6% during the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after purchasing an additional 893,707 shares in the last quarter. Janus Henderson Group PLC grew its stake in IDEAYA Biosciences by 11.8% in the fourth quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock valued at $248,344,000 after purchasing an additional 758,117 shares during the last quarter. Finally, First Turn Management LLC purchased a new position in IDEAYA Biosciences in the fourth quarter valued at about $25,017,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.