OMERS ADMINISTRATION Corp Takes $764,000 Position in IDEAYA Biosciences, Inc. $IDYA

OMERS ADMINISTRATION Corp acquired a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,500 shares of the company’s stock, valued at approximately $764,000.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of IDEAYA Biosciences in the second quarter worth $331,452,000. GSK plc purchased a new position in shares of IDEAYA Biosciences in the 4th quarter worth $46,093,000. State Street Corp increased its position in shares of IDEAYA Biosciences by 27.6% during the 4th quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after purchasing an additional 893,707 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of IDEAYA Biosciences by 11.8% in the 4th quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock worth $248,344,000 after purchasing an additional 758,117 shares in the last quarter. Finally, First Turn Management LLC purchased a new stake in IDEAYA Biosciences in the fourth quarter worth about $25,017,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the sale, the chief accounting officer owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.70% of the stock is owned by company insiders.

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock opened at $41.77 on Friday. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -21.53 and a beta of -0.10. The stock has a 50 day moving average price of $36.99 and a 200-day moving average price of $33.12. IDEAYA Biosciences, Inc. has a one year low of $23.23 and a one year high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The company had revenue of $8.86 million for the quarter, compared to analysts’ expectations of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The business’s quarterly revenue was up 8800.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.88) EPS. Sell-side analysts predict that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup reiterated a “market outperform” rating on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. Mizuho cut their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Truist Financial decreased their price target on IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Wedbush boosted their price objective on IDEAYA Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.12.

About IDEAYA Biosciences

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.