IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 23.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,298 shares of the company’s stock after selling 2,214 shares during the period. E Fund Management Co. Ltd.’s holdings in IDEAYA Biosciences were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IDYA. Vanguard Group Inc. increased its position in shares of IDEAYA Biosciences by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after purchasing an additional 679,985 shares during the period. Capital Research Global Investors boosted its stake in IDEAYA Biosciences by 43.6% during the fourth quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock valued at $70,337,000 after buying an additional 600,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in IDEAYA Biosciences by 17.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock valued at $126,889,000 after buying an additional 535,909 shares in the last quarter. Fisher Asset Management LLC grew its holdings in IDEAYA Biosciences by 1,611.9% during the fourth quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock worth $19,202,000 after acquiring an additional 508,151 shares during the period. Finally, Sofinnova Investments Inc. raised its position in IDEAYA Biosciences by 47.3% in the second quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock worth $40,430,000 after acquiring an additional 369,932 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Price Performance

NASDAQ IDYA opened at $35.28 on Friday. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -17.55 and a beta of 0.84. The company has a 50 day simple moving average of $39.02 and a 200-day simple moving average of $39.83. IDEAYA Biosciences, Inc. has a 52-week low of $23.41 and a 52-week high of $47.74.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IDYA shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, August 7th. Citigroup dropped their price target on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Wedbush reissued an “outperform” rating and set a $54.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a research report on Monday, July 29th. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $56.20.

About IDEAYA Biosciences

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.