Nicholas Investment Partners LP Makes New Investment in IDEAYA Biosciences, Inc. $IDYA

Nicholas Investment Partners LP purchased a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 4th quarter, Holdings Channel.com reports. The fund purchased 192,413 shares of the company’s stock, valued at approximately $6,652,000.

Several other hedge funds have also added to or reduced their stakes in IDYA. GSK plc bought a new stake in IDEAYA Biosciences in the fourth quarter worth $46,093,000. Baker BROS. Advisors LP lifted its stake in IDEAYA Biosciences by 54.6% in the third quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock worth $89,125,000 after purchasing an additional 1,156,716 shares during the last quarter. State Street Corp lifted its stake in IDEAYA Biosciences by 27.6% in the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock worth $142,935,000 after purchasing an additional 893,707 shares during the last quarter. First Turn Management LLC bought a new stake in IDEAYA Biosciences in the fourth quarter worth $25,017,000. Finally, Fiera Capital Corp lifted its stake in IDEAYA Biosciences by 32.6% in the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock worth $84,256,000 after purchasing an additional 599,295 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

IDEAYA Biosciences Trading Up 0.5%

Shares of NASDAQ:IDYA opened at $28.98 on Friday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of -18.11 and a beta of -0.05. The company has a 50-day moving average price of $29.89 and a 200-day moving average price of $32.49. IDEAYA Biosciences, Inc. has a 12 month low of $20.50 and a 12 month high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The firm had revenue of $6.56 million for the quarter, compared to analysts’ expectations of $5.04 million. The company’s revenue was down 39.4% on a year-over-year basis. During the same period last year, the business posted ($0.82) earnings per share. As a group, research analysts forecast that IDEAYA Biosciences, Inc. will post -4.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Guggenheim boosted their price target on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Royal Bank Of Canada upped their price objective on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company upped their price objective on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Fifteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.69.

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.