OMERS ADMINISTRATION Corp Buys Shares of 20,500 IDEAYA Biosciences, Inc. $IDYA

OMERS ADMINISTRATION Corp bought a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the second quarter, HoldingsChannel.com reports. The fund bought 20,500 shares of the company’s stock, valued at approximately $764,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in IDEAYA Biosciences by 171.1% in the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after purchasing an additional 580 shares during the period. ANTIPODES PARTNERS Ltd increased its stake in IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after buying an additional 380 shares during the period. Quantbot Technologies LP purchased a new position in IDEAYA Biosciences in the 2nd quarter worth about $43,000. Global Retirement Partners LLC bought a new stake in IDEAYA Biosciences during the 4th quarter valued at about $61,000. Finally, Daiwa Securities Group Inc. grew its stake in IDEAYA Biosciences by 16.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after acquiring an additional 436 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IDYA has been the subject of several analyst reports. Wedbush increased their price target on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada lowered their price target on IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Truist Financial cut their price target on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Friday, July 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.12.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA opened at $41.77 on Friday. The firm has a market capitalization of $3.67 billion, a P/E ratio of -21.53 and a beta of -0.10. The stock has a 50-day simple moving average of $36.99 and a two-hundred day simple moving average of $33.12. IDEAYA Biosciences, Inc. has a fifty-two week low of $23.23 and a fifty-two week high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.16). IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The firm had revenue of $8.86 million for the quarter, compared to analysts’ expectations of $8.02 million. During the same period last year, the firm earned ($0.88) earnings per share. IDEAYA Biosciences’s revenue for the quarter was up 8800.0% compared to the same quarter last year. As a group, analysts forecast that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In related news, CAO Briseno Andres Ruiz sold 9,550 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer owned 26,466 shares in the company, valued at $1,058,904.66. The trade was a 26.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.70% of the stock is currently owned by corporate insiders.

About IDEAYA Biosciences

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.