Principal Financial Group Inc. Has $445,000 Stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Principal Financial Group Inc. reduced its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 16.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,688 shares of the company’s stock after selling 2,587 shares during the period. Principal Financial Group Inc.’s holdings in IDEAYA Biosciences were worth $445,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its position in IDEAYA Biosciences by 9,225.0% during the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the last quarter. Comerica Bank grew its stake in shares of IDEAYA Biosciences by 723.5% in the first 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 acquired a new position in IDEAYA Biosciences during the first quarter worth $67,000. SG Americas Securities LLC bought a new stake in IDEAYA Biosciences during the first quarter worth $101,000. Finally, Nisa Investment Advisors LLC raised its position in IDEAYA Biosciences by 38.4% during the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after acquiring an additional 927 shares in the last quarter. 98.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IDYA. Mizuho started coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective on the stock. Lifesci Capital raised IDEAYA Biosciences to a “strong-buy” rating in a research report on Monday, July 29th. Wedbush reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup cut their price target 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 given a strong buy rating to the company. According to data from MarketBeat, IDEAYA Biosciences has a consensus rating of “Buy” and an average target price of $56.20.

IDEAYA Biosciences Trading Up 3.7 %

NASDAQ IDYA opened at $37.46 on Friday. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -18.64 and a beta of 0.84. The company has a 50 day moving average of $39.26 and a 200-day moving average of $40.06. IDEAYA Biosciences, Inc. has a 1-year low of $23.41 and a 1-year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate 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 period last year, the firm earned ($0.50) earnings per share. On average, equities research analysts forecast that IDEAYA Biosciences, Inc. will post -2.51 earnings per share for the current year.

IDEAYA Biosciences Company 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.