IDEAYA Biosciences, Inc. $IDYA Holdings Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 34.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 466,300 shares of the company’s stock after selling 246,374 shares during the period. Pictet Asset Management Holding SA owned approximately 0.53% of IDEAYA Biosciences worth $17,915,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its holdings in shares of IDEAYA Biosciences by 44.0% in the third quarter. Alps Advisors Inc. now owns 127,829 shares of the company’s stock valued at $4,911,000 after purchasing an additional 39,060 shares during the period. Covestor Ltd lifted its holdings in shares of IDEAYA Biosciences by 21.1% during the third quarter. Covestor Ltd now owns 3,178 shares of the company’s stock worth $122,000 after purchasing an additional 554 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of IDEAYA Biosciences during the third quarter worth $189,000. ProShare Advisors LLC lifted its holdings in shares of IDEAYA Biosciences by 6.3% during the third quarter. ProShare Advisors LLC now owns 14,740 shares of the company’s stock worth $566,000 after purchasing an additional 876 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in IDEAYA Biosciences by 23.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,856 shares of the company’s stock valued at $714,000 after buying an additional 3,613 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Price Performance

IDYA opened at $31.49 on Friday. The business has a 50 day simple moving average of $35.63 and a 200-day simple moving average of $33.91. The stock has a market capitalization of $3.04 billion, a P/E ratio of -7.01 and a beta of 0.08. IDEAYA Biosciences, Inc. has a 12 month low of $26.81 and a 12 month high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.04). The business had revenue of $10.24 million during the quarter, compared to analysts’ expectations of $7.58 million. IDEAYA Biosciences had a negative net margin of 1,157.18% and a negative return on equity of 39.78%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 earnings per share. Research analysts anticipate that IDEAYA Biosciences, Inc. will post -4.63 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on IDYA shares. Stifel Nicolaus started coverage on shares of IDEAYA Biosciences in a research note on Wednesday, October 14th. They issued a “buy” rating and a $48.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Thursday, October 15th. Wall Street Zen cut shares of IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. William Blair started coverage on shares of IDEAYA Biosciences in a report on Friday, October 16th. They issued an “outperform” rating on the stock. Finally, Guggenheim lowered their target price on shares of IDEAYA Biosciences from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $49.55.

Insider Activity at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $37.41, for a total transaction of $985,304.58. Following the sale, the chief executive officer directly owned 690,695 shares in the company, valued at approximately $25,838,899.95. The trade was a 3.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.70% of the company’s stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc. is a precision oncology company focused on discovering and developing targeted medicines for patients with cancer. Its research uses insights into tumor genetics and synthetic lethality—the idea that certain genetic changes can make cancer cells especially vulnerable to blocking a related biological pathway—to identify potential treatment targets. The company’s investigational pipeline includes small-molecule therapies aimed at specific cancer-related targets. Programs have included darovasertib, a protein kinase C inhibitor being studied in uveal melanoma, and IDE397, a MAT2A inhibitor being developed for tumors with particular genetic alterations.