Rhenman & Partners Asset Management AB Takes Position in IDEAYA Biosciences, Inc. $IDYA

Rhenman & Partners Asset Management AB bought a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 250,000 shares of the company’s stock, valued at approximately $8,642,000. Rhenman & Partners Asset Management AB owned about 0.29% of IDEAYA Biosciences at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in IDYA. Royal Bank of Canada grew its holdings in shares of IDEAYA Biosciences by 30.1% during the first quarter. Royal Bank of Canada now owns 122,460 shares of the company’s stock valued at $2,006,000 after purchasing an additional 28,322 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in IDEAYA Biosciences by 8.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company’s stock worth $938,000 after buying an additional 4,308 shares in the last quarter. Millennium Management LLC grew its holdings in IDEAYA Biosciences by 345.2% in the 1st quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock worth $8,970,000 after buying an additional 424,625 shares in the last quarter. American Century Companies Inc. grew its holdings in IDEAYA Biosciences by 862.7% in the 2nd quarter. American Century Companies Inc. now owns 114,644 shares of the company’s stock worth $2,410,000 after buying an additional 102,736 shares in the last quarter. Finally, Norges Bank bought a new position in IDEAYA Biosciences in the 2nd quarter worth approximately $643,000. 98.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Tuesday, April 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Royal Bank Of Canada increased their price objective on IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Mizuho decreased their price objective on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Finally, Guggenheim increased their price objective on IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.69.

IDEAYA Biosciences Price Performance

IDYA opened at $28.98 on Friday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -18.11 and a beta of -0.05. IDEAYA Biosciences, Inc. has a 1-year low of $20.50 and a 1-year high of $39.28. The business has a 50 day moving average price of $29.89 and a two-hundred day moving average price of $32.49.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The business had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $5.04 million. IDEAYA Biosciences’s revenue for the quarter was down 39.4% compared to the same quarter last year. During the same period last year, the business earned ($0.82) EPS. Equities analysts expect that IDEAYA Biosciences, Inc. will post -4.27 EPS for the current fiscal year.

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.