255,764 Shares in IDEAYA Biosciences, Inc. $IDYA Acquired by Jennison Associates LLC

Jennison Associates LLC bought a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the first quarter, Holdings Channel.com reports. The fund bought 255,764 shares of the company’s stock, valued at approximately $8,522,000.

Several other hedge funds have also recently added to or reduced their stakes in IDYA. Farther Finance Advisors LLC increased its position in shares of IDEAYA Biosciences by 171.1% during the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after buying an additional 580 shares during the period. ANTIPODES PARTNERS Ltd lifted its holdings in IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after buying an additional 380 shares during the period. Global Retirement Partners LLC bought a new stake in IDEAYA Biosciences during the fourth quarter valued at $61,000. Comerica Bank boosted its position in IDEAYA Biosciences by 36.5% during the fourth quarter. Comerica Bank now owns 2,514 shares of the company’s stock valued at $87,000 after acquiring an additional 672 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in IDEAYA Biosciences during the 1st quarter worth about $84,000. Institutional investors own 98.29% of the company’s stock.

Analysts Set New Price Targets

IDYA has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Mizuho lowered their target price on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada dropped their price target on IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Finally, Guggenheim increased their price target on IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.25.

Insiders Place Their Bets

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the transaction, the chief accounting officer owned 26,466 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.70% of the company’s stock.

IDEAYA Biosciences Trading Up 1.5%

Shares of NASDAQ IDYA opened at $35.99 on Wednesday. The firm’s 50-day moving average price is $32.57 and its 200-day moving average price is $32.66. IDEAYA Biosciences, Inc. has a 1-year low of $21.50 and a 1-year high of $40.58. The firm has a market capitalization of $3.16 billion, a P/E ratio of -22.49 and a beta of -0.09.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The firm had revenue of $6.56 million for the quarter, compared to the consensus estimate of $5.04 million. IDEAYA Biosciences’s quarterly revenue was down 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.82) earnings per share. Equities research analysts forecast that IDEAYA Biosciences, Inc. will post -4.1 EPS for the current year.

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.