Sio Capital Management LLC Buys New Stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Sio Capital Management LLC purchased a new position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 123,000 shares of the company’s stock, valued at approximately $3,897,000. IDEAYA Biosciences accounts for 1.5% of Sio Capital Management LLC’s investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC lifted its holdings in IDEAYA Biosciences by 12.1% in the third quarter. FMR LLC now owns 12,635,653 shares of the company’s stock valued at $400,297,000 after acquiring an additional 1,365,570 shares during the period. Vanguard Group Inc. boosted its holdings in IDEAYA Biosciences by 19.6% during the first quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after buying an additional 679,985 shares in the last quarter. Jennison Associates LLC increased its holdings in IDEAYA Biosciences by 136.6% in the third quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock valued at $30,801,000 after buying an additional 561,404 shares in the last quarter. Sofinnova Investments Inc. raised its position in shares of IDEAYA Biosciences by 47.3% in the second quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock worth $40,430,000 after acquiring an additional 369,932 shares during the period. Finally, Fiera Capital Corp grew its position in shares of IDEAYA Biosciences by 22.6% during the 2nd quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock valued at $46,886,000 after acquiring an additional 246,010 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IDYA. Cantor Fitzgerald initiated coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They issued an “overweight” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $53.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Stephens started coverage on shares of IDEAYA Biosciences in a report on Monday, November 18th. They issued an “overweight” rating and a $51.00 price target for the company. UBS Group initiated coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Stifel Nicolaus boosted their target price on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Up 0.8 %

Shares of NASDAQ IDYA opened at $26.99 on Friday. The stock has a fifty day simple moving average of $29.68 and a 200-day simple moving average of $35.42. IDEAYA Biosciences, Inc. has a twelve month low of $25.20 and a twelve month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same period in the previous year, the company posted ($0.46) EPS. As a group, analysts anticipate that IDEAYA Biosciences, Inc. will post -2.46 earnings per share for the current year.

IDEAYA Biosciences 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.