Samlyn Capital LLC Raises Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Samlyn Capital LLC boosted its stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 27.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 611,820 shares of the company’s stock after buying an additional 130,595 shares during the quarter. Samlyn Capital LLC owned approximately 0.81% of IDEAYA Biosciences worth $21,481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Logos Global Management LP lifted its stake in IDEAYA Biosciences by 13.3% in the 2nd quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock valued at $59,687,000 after buying an additional 200,000 shares in the last quarter. Magnetar Financial LLC purchased a new position in IDEAYA Biosciences in the 2nd quarter valued at about $1,599,000. Hsbc Holdings PLC lifted its stake in IDEAYA Biosciences by 80.1% in the 2nd quarter. Hsbc Holdings PLC now owns 15,269 shares of the company’s stock valued at $528,000 after buying an additional 6,789 shares in the last quarter. Sofinnova Investments Inc. lifted its stake in IDEAYA Biosciences by 47.3% in the 2nd quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock valued at $40,430,000 after buying an additional 369,932 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in IDEAYA Biosciences in the 2nd quarter valued at about $3,838,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $33.73 on Tuesday. The company has a 50 day simple moving average of $38.76 and a 200-day simple moving average of $39.58. The company has a market capitalization of $2.55 billion, a P/E ratio of -16.78 and a beta of 0.84. 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 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 last year, the company posted ($0.50) EPS. As a group, research analysts expect that IDEAYA Biosciences, Inc. will post -2.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IDYA shares. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research note on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $54.00 target price on shares of IDEAYA Biosciences in a research note on Wednesday, August 7th. Lifesci Capital raised shares of IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. BTIG Research raised their target price on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IDEAYA Biosciences presently has an average rating of “Buy” and an average target price 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.