BlackRock Inc. Buys Shares of 8,893,260 IDEAYA Biosciences, Inc. $IDYA

BlackRock Inc. bought a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 2nd quarter, Holdings Channel reports. The firm bought 8,893,260 shares of the company’s stock, valued at approximately $331,452,000. BlackRock Inc. owned approximately 0.10% of IDEAYA Biosciences at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG bought a new stake in shares of IDEAYA Biosciences in the second quarter valued at about $3,498,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of IDEAYA Biosciences in the 2nd quarter valued at about $2,228,000. Bank of New York Mellon Corp purchased a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth approximately $9,884,000. State of Wyoming purchased a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth approximately $145,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of IDEAYA Biosciences during the second quarter valued at approximately $553,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Trading Down 2.1%

NASDAQ:IDYA opened at $41.58 on Thursday. IDEAYA Biosciences, Inc. has a twelve month low of $23.23 and a twelve month high of $42.68. The company has a market cap of $3.65 billion, a PE ratio of -21.43 and a beta of -0.10. The company’s 50 day moving average is $36.78 and its two-hundred day moving average is $33.05.

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

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences 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 transaction of $382,095.50. Following the completion of the sale, the chief accounting officer owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.