Avidity Partners Management LP Sells 624,971 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Avidity Partners Management LP reduced its stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYAFree Report) by 29.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,520,000 shares of the company’s stock after selling 624,971 shares during the quarter. IDEAYA Biosciences makes up approximately 2.0% of Avidity Partners Management LP’s investment portfolio, making the stock its 19th biggest position. Avidity Partners Management LP’s holdings in IDEAYA Biosciences were worth $54,082,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Superstring Capital Management LP purchased a new stake in IDEAYA Biosciences in the 4th quarter worth $8,941,000. Capital Research Global Investors increased its stake in IDEAYA Biosciences by 43.6% in the 4th quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock worth $70,337,000 after buying an additional 600,000 shares in the last quarter. Rafferty Asset Management LLC increased its stake in IDEAYA Biosciences by 49.8% in the 4th quarter. Rafferty Asset Management LLC now owns 193,356 shares of the company’s stock worth $6,880,000 after buying an additional 64,280 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in IDEAYA Biosciences by 93.2% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 61,226 shares of the company’s stock worth $2,178,000 after buying an additional 29,536 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in IDEAYA Biosciences in the 4th quarter worth $1,965,000. 98.29% of the stock is owned by institutional investors.

IDEAYA Biosciences Trading Down 2.0 %

Shares of IDEAYA Biosciences stock traded down $0.75 on Tuesday, hitting $37.58. 601,078 shares of the company traded hands, compared to its average volume of 848,200. The stock’s 50 day moving average price is $40.21 and its 200-day moving average price is $40.16. IDEAYA Biosciences, Inc. has a 52 week low of $20.90 and a 52 week high of $47.74. The company has a market cap of $2.84 billion, a PE ratio of -18.49 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. The firm’s revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.49) earnings per share. As a group, research analysts anticipate that IDEAYA Biosciences, Inc. will post -2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yujiro S. Hata sold 56,711 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the transaction, the chief executive officer now owns 677,887 shares of the company’s stock, valued at $28,206,878.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 34,433 shares of IDEAYA Biosciences stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.81, for a total value of $1,439,643.73. Following the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at $28,342,455.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares in the company, valued at $28,206,878.07. The disclosure for this sale can be found here. Insiders sold 119,644 shares of company stock valued at $4,832,228 over the last 90 days. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IDYA shares. Leerink Partnrs restated an “outperform” rating on shares of IDEAYA Biosciences in a research report on Friday, February 23rd. Citigroup raised their price objective on IDEAYA Biosciences from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. BTIG Research started coverage on IDEAYA Biosciences in a research report on Friday, March 8th. They set a “buy” rating and a $55.00 price objective for the company. Wedbush restated an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group cut their price objective on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $48.27.

Read Our Latest Report on IDYA

About IDEAYA Biosciences

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for IDEAYA Biosciences (NASDAQ:IDYA)

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