SummitTX Capital L.P. Takes Position in IDEAYA Biosciences, Inc. $IDYA

SummitTX Capital L.P. acquired a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the first quarter, HoldingsChannel.com reports. The fund acquired 162,733 shares of the company’s stock, valued at approximately $5,422,000.

Several other large investors have also added to or reduced their stakes in the business. GSK plc bought a new position in IDEAYA Biosciences in the fourth quarter valued at $46,093,000. State Street Corp lifted its position in IDEAYA Biosciences by 27.6% during the 4th quarter. State Street Corp now owns 4,134,641 shares of the company’s stock worth $142,935,000 after buying an additional 893,707 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of IDEAYA Biosciences by 11.8% during the 4th quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock worth $248,344,000 after buying an additional 758,117 shares during the last quarter. First Turn Management LLC bought a new position in shares of IDEAYA Biosciences in the 4th quarter valued at about $25,017,000. Finally, Fiera Capital Corp grew its holdings in shares of IDEAYA Biosciences by 32.6% in the 4th quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock valued at $84,256,000 after acquiring an additional 599,295 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Price Performance

Shares of IDYA opened at $36.77 on Tuesday. The company’s 50-day moving average is $33.15 and its 200-day moving average is $32.68. The firm has a market capitalization of $3.23 billion, a PE ratio of -22.98 and a beta of -0.09. IDEAYA Biosciences, Inc. has a fifty-two week low of $22.09 and a fifty-two week high of $40.58.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The company had revenue of $6.56 million for the quarter, compared to analyst estimates of $5.04 million. During the same period last year, the firm earned ($0.82) earnings per share. The business’s revenue for the quarter was down 39.4% compared to the same quarter last year. Analysts predict that IDEAYA Biosciences, Inc. will post -4.1 earnings per share for the current fiscal year.

Insider Transactions at IDEAYA Biosciences

In related news, CAO Briseno Andres Ruiz sold 9,550 shares of IDEAYA Biosciences stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $382,095.50. Following the completion of the sale, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company upped their target price on IDEAYA Biosciences from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Wall Street Zen raised IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. The Goldman Sachs Group boosted their price target on IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Finally, Guggenheim increased their price objective on IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Fourteen 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.25.

IDEAYA Biosciences Company 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.