Platinum Investment Management Ltd. Has $3.93 Million Stock Holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Platinum Investment Management Ltd. lifted its stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,713 shares of the company’s stock after acquiring an additional 7,996 shares during the quarter. Platinum Investment Management Ltd. owned approximately 0.18% of IDEAYA Biosciences worth $3,925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of IDYA. R Squared Ltd acquired a new position in shares of IDEAYA Biosciences in the fourth quarter worth $35,000. KBC Group NV increased its stake in shares of IDEAYA Biosciences by 29.1% in the third quarter. KBC Group NV now owns 2,274 shares of the company’s stock worth $72,000 after acquiring an additional 513 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of IDEAYA Biosciences by 44.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock worth $72,000 after acquiring an additional 853 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of IDEAYA Biosciences in the third quarter worth $83,000. Finally, Cibc World Markets Corp acquired a new position in shares of IDEAYA Biosciences in the fourth quarter worth $203,000. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $18.47 on Wednesday. The company has a 50-day simple moving average of $21.68 and a 200-day simple moving average of $26.86. The firm has a market capitalization of $1.62 billion, a P/E ratio of -5.60 and a beta of 0.76. IDEAYA Biosciences, Inc. has a 52 week low of $16.95 and a 52 week high of $46.40.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.00 million. As a group, equities analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IDYA. Wedbush reiterated an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Finally, Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of IDEAYA Biosciences in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, IDEAYA Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.