Magnetar Financial LLC Purchases New Holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Magnetar Financial LLC purchased a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 45,550 shares of the company’s stock, valued at approximately $1,599,000. Magnetar Financial LLC owned approximately 0.06% of IDEAYA Biosciences as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of IDEAYA Biosciences during the second quarter valued at approximately $41,000. Covestor Ltd increased its holdings in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after buying an additional 1,107 shares during the period. Comerica Bank raised its stake in shares of IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after buying an additional 1,324 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of IDEAYA Biosciences during the 1st quarter worth about $67,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of IDEAYA Biosciences by 637.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock valued at $68,000 after acquiring an additional 1,684 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Down 3.6 %

Shares of NASDAQ IDYA opened at $33.73 on Tuesday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of -16.78 and a beta of 0.84. IDEAYA Biosciences, Inc. has a 12-month low of $23.41 and a 12-month high of $47.74. The firm’s 50-day simple moving average is $38.76 and its 200 day simple moving average is $39.58.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same quarter last year, the business posted ($0.50) earnings per share. On average, equities analysts expect that IDEAYA Biosciences, Inc. will post -2.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

IDYA has been the subject of several recent research reports. Stifel Nicolaus increased their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Lifesci Capital raised IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Wedbush reaffirmed an “outperform” rating and issued a $54.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, August 7th. Finally, Citigroup cut their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IDEAYA Biosciences currently has a consensus rating of “Buy” and a consensus price target of $56.20.

IDEAYA Biosciences Profile

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.