First Turn Management LLC Makes New Investment in IDEAYA Biosciences, Inc. $IDYA

First Turn Management LLC bought a new position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 723,653 shares of the company’s stock, valued at approximately $25,017,000. IDEAYA Biosciences accounts for 2.9% of First Turn Management LLC’s holdings, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in IDEAYA Biosciences by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after buying an additional 97,116 shares during the period. State Street Corp lifted its holdings in IDEAYA Biosciences by 27.6% during the 4th quarter. State Street Corp now owns 4,134,641 shares of the company’s stock worth $142,935,000 after buying an additional 893,707 shares during the period. Baker BROS. Advisors LP lifted its holdings in IDEAYA Biosciences by 54.6% during the 3rd quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock worth $89,125,000 after buying an additional 1,156,716 shares during the period. Fiera Capital Corp lifted its holdings in IDEAYA Biosciences by 32.6% during the 4th quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock worth $84,256,000 after buying an additional 599,295 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in IDEAYA Biosciences by 43.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,770,866 shares of the company’s stock worth $61,219,000 after buying an additional 537,753 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and set a $58.00 target price on shares of IDEAYA Biosciences in a report on Friday. Wells Fargo & Company boosted their price objective on IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Tuesday, April 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group boosted their price objective on IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences currently has an average rating of “Moderate Buy” and an average target price of $50.69.

IDEAYA Biosciences Trading Up 0.5%

Shares of NASDAQ IDYA opened at $28.98 on Friday. The firm’s 50-day moving average price is $29.89 and its 200-day moving average price is $32.49. IDEAYA Biosciences, Inc. has a 1-year low of $20.50 and a 1-year high of $39.28. The firm has a market capitalization of $2.55 billion, a P/E ratio of -18.11 and a beta of -0.05.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The firm had revenue of $6.56 million for the quarter, compared to the consensus estimate of $5.04 million. IDEAYA Biosciences’s quarterly revenue was down 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.82) earnings per share. Equities research analysts forecast that IDEAYA Biosciences, Inc. will post -4.27 EPS for the current year.

IDEAYA Biosciences Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.