Baker BROS. Advisors LP Buys 343,382 Shares of IDEAYA Biosciences, Inc. $IDYA

Baker BROS. Advisors LP boosted its stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,618,826 shares of the company’s stock after purchasing an additional 343,382 shares during the quarter. IDEAYA Biosciences makes up 0.7% of Baker BROS. Advisors LP’s investment portfolio, making the stock its 20th largest position. Baker BROS. Advisors LP owned about 4.13% of IDEAYA Biosciences worth $125,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd boosted 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 purchasing an additional 380 shares during the period. Daiwa Securities Group Inc. boosted 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 purchasing an additional 436 shares during the period. Russell Investments Group Ltd. boosted its stake in IDEAYA Biosciences by 5.2% in the 4th quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock worth $335,000 after purchasing an additional 476 shares during the period. PNC Financial Services Group Inc. boosted its stake in IDEAYA Biosciences by 16.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company’s stock worth $106,000 after purchasing an additional 537 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in IDEAYA Biosciences by 171.1% in the 4th 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. Institutional investors own 98.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on IDYA shares. Wedbush restated an “outperform” rating and issued a $58.00 target price on shares of IDEAYA Biosciences in a research note on Friday, June 12th. Truist Financial set a $65.00 price target on IDEAYA Biosciences in a research report on Monday, April 13th. Guggenheim lifted their price target on IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their price target on IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Finally, Citigroup reiterated a “market outperform” rating on shares of IDEAYA Biosciences in a research report on Tuesday, June 2nd. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.69.

IDEAYA Biosciences Trading Up 2.3%

Shares of IDYA opened at $31.26 on Thursday. The company has a market cap of $2.75 billion, a PE ratio of -19.54 and a beta of -0.05. The stock has a 50-day moving average price of $29.78 and a 200-day moving average price of $32.36. IDEAYA Biosciences, Inc. has a 12-month low of $20.50 and a 12-month high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $5.04 million. The company’s revenue was down 39.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) EPS. As a group, analysts predict that IDEAYA Biosciences, Inc. will post -4.13 earnings per share for the current year.

IDEAYA Biosciences Company 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.