IDEAYA Biosciences, Inc. $IDYA Shares Sold by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP trimmed its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 56.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,865 shares of the company’s stock after selling 48,418 shares during the quarter. Seven Fleet Capital Management LP’s holdings in IDEAYA Biosciences were worth $1,411,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth about $331,452,000. Jupiter Topco LLC bought a new position in shares of IDEAYA Biosciences during the second quarter worth about $319,728,000. Janus Henderson Group PLC grew its stake in IDEAYA Biosciences by 1.1% in the first quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company’s stock worth $242,023,000 after purchasing an additional 78,797 shares in the last quarter. Vanguard Group Inc. grew its stake in IDEAYA Biosciences by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after purchasing an additional 97,116 shares in the last quarter. Finally, State Street Corp increased its holdings in IDEAYA Biosciences by 27.6% in the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after buying an additional 893,707 shares during the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IDYA has been the topic of several research reports. Wall Street Zen cut IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Jefferies Financial Group reiterated a “buy” rating on shares of IDEAYA Biosciences in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Finally, Wedbush lifted their price objective on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, IDEAYA Biosciences currently has an average rating of “Moderate Buy” and an average price target of $50.87.

IDEAYA Biosciences Stock Down 0.3%

Shares of IDYA stock opened at $39.86 on Friday. The business has a 50 day moving average of $37.60 and a two-hundred day moving average of $33.45. IDEAYA Biosciences, Inc. has a 52 week low of $23.23 and a 52 week high of $42.68. The company has a market cap of $3.50 billion, a P/E ratio of -20.55 and a beta of -0.07.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). The company had revenue of $8.86 million for the quarter, compared to analyst estimates of $8.02 million. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.The firm’s revenue for the quarter was up 8800.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.88) earnings per share. Analysts expect that IDEAYA Biosciences, Inc. will post -4.38 EPS for the current fiscal year.

Insider Buying and Selling

In other IDEAYA Biosciences news, CAO Andres Ruiz Briseno sold 9,550 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the sale, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at $1,058,904.66. This trade represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.70% of the stock is currently owned by insiders.

IDEAYA Biosciences 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.