Connor Clark & Lunn Investment Management Ltd. Decreases Holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Connor Clark & Lunn Investment Management Ltd. reduced its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 38.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,370 shares of the company’s stock after selling 30,947 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of IDEAYA Biosciences worth $1,596,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in IDEAYA Biosciences by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after buying an additional 679,985 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of IDEAYA Biosciences by 136.6% during the third quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock valued at $30,801,000 after acquiring an additional 561,404 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of IDEAYA Biosciences by 13.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock valued at $177,825,000 after purchasing an additional 486,222 shares during the last quarter. Sofinnova Investments Inc. grew its position in IDEAYA Biosciences by 47.3% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock worth $40,430,000 after purchasing an additional 369,932 shares during the last quarter. Finally, Fiera Capital Corp increased its stake in IDEAYA Biosciences by 22.6% during the 2nd quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock valued at $46,886,000 after purchasing an additional 246,010 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. UBS Group began coverage on shares of IDEAYA Biosciences in a research note on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Citigroup reduced their target price on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Wedbush reaffirmed an “outperform” rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a report on Monday, November 4th. Finally, Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $26.54 on Tuesday. The stock has a market capitalization of $2.29 billion, a P/E ratio of -11.39 and a beta of 0.86. The company’s fifty day moving average price is $30.18 and its 200 day moving average price is $35.64. IDEAYA Biosciences, Inc. has a 1 year low of $25.20 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same quarter last year, the business posted ($0.46) earnings per share. Sell-side analysts predict that IDEAYA Biosciences, Inc. will post -2.46 EPS for the current 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.