Millennium Management LLC Increases Stock Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Millennium Management LLC increased its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 87.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 258,606 shares of the company’s stock after buying an additional 120,395 shares during the period. Millennium Management LLC owned 0.34% of IDEAYA Biosciences worth $9,080,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. First Light Asset Management LLC bought a new position in shares of IDEAYA Biosciences in the fourth quarter worth $12,299,000. Vanguard Group Inc. lifted its holdings in IDEAYA Biosciences by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 3,475,772 shares of the company’s stock worth $123,668,000 after purchasing an additional 504,275 shares in the last quarter. Entropy Technologies LP bought a new position in IDEAYA Biosciences in the 1st quarter worth about $679,000. Jennison Associates LLC purchased a new position in IDEAYA Biosciences during the 1st quarter valued at about $11,244,000. Finally, Fisher Asset Management LLC increased its position in shares of IDEAYA Biosciences by 1,611.9% during the fourth quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock valued at $19,202,000 after buying an additional 508,151 shares during the period. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IDYA shares. Stifel Nicolaus raised their price objective 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. Oppenheimer decreased their price target 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. Wedbush dropped their price objective on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. BTIG Research boosted their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Lifesci Capital raised IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IDEAYA Biosciences has an average rating of “Buy” and an average price target of $56.00.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $31.06 on Wednesday. The stock has a market capitalization of $2.35 billion, a P/E ratio of -15.67 and a beta of 0.82. IDEAYA Biosciences, Inc. has a one year low of $23.41 and a one year high of $47.74. The firm’s 50 day simple moving average is $36.48 and its two-hundred day simple moving average is $38.59.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.68) 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 firm posted ($0.50) earnings per share. As a group, equities analysts expect that IDEAYA Biosciences, Inc. will post -2.51 earnings per share for the current fiscal year.

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.