Squarepoint Ops LLC Purchases 56,256 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Squarepoint Ops LLC raised its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 127.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 100,502 shares of the company’s stock after purchasing an additional 56,256 shares during the period. Squarepoint Ops LLC owned 0.13% of IDEAYA Biosciences worth $3,529,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Quest Partners LLC acquired a new position in IDEAYA Biosciences in the second quarter valued at $41,000. Covestor Ltd raised its position in shares of IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after acquiring an additional 1,107 shares in the last quarter. Comerica Bank lifted 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 purchasing an additional 1,324 shares during the period. JTC Employer Solutions Trustee Ltd bought a new stake in shares of IDEAYA Biosciences during the 1st quarter valued at about $67,000. Finally, Daiwa Securities Group Inc. grew its stake in IDEAYA Biosciences by 637.9% during the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after purchasing an additional 1,684 shares during the period. 98.29% of the stock is owned by institutional investors.

IDEAYA Biosciences Stock Performance

IDYA stock opened at $30.73 on Wednesday. The business has a 50-day simple moving average of $37.45 and a two-hundred day simple moving average of $39.00. The company has a market capitalization of $2.33 billion, a P/E ratio of -15.29 and a beta of 0.84. IDEAYA Biosciences, Inc. has a 52-week low of $23.41 and a 52-week 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 the consensus estimate 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 period in the prior year, the company posted ($0.50) EPS. As a group, sell-side analysts forecast that IDEAYA Biosciences, Inc. will post -2.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDYA has been the topic of several recent analyst reports. Mizuho assumed coverage on IDEAYA Biosciences in a research note on Monday, July 8th. They issued an “outperform” rating and a $50.00 price target on the stock. Stifel Nicolaus boosted their target price on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Oppenheimer dropped their price objective on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $56.00.

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.