IDEAYA Biosciences, Inc. $IDYA Position Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 715,906 shares of the company’s stock after selling 18,429 shares during the quarter. Pictet Asset Management Holding SA owned 0.82% of IDEAYA Biosciences worth $23,854,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake in shares of IDEAYA Biosciences by 11.8% in the first quarter. SG Americas Securities LLC now owns 32,964 shares of the company’s stock worth $1,098,000 after purchasing an additional 3,468 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in IDEAYA Biosciences by 1,071.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,795 shares of the company’s stock valued at $131,000 after buying an additional 3,471 shares in the last quarter. Flax Pond Capital LLC bought a new position in IDEAYA Biosciences in the 4th quarter valued at about $1,353,000. Invesco Ltd. increased its stake in IDEAYA Biosciences by 91.9% during the 4th quarter. Invesco Ltd. now owns 238,314 shares of the company’s stock valued at $8,239,000 after buying an additional 114,118 shares during the period. Finally, XTX Topco Ltd acquired a new position in IDEAYA Biosciences during the 4th quarter valued at about $2,288,000. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Down 3.0%

NASDAQ:IDYA opened at $36.17 on Thursday. The stock has a fifty day simple moving average of $30.38 and a 200 day simple moving average of $32.40. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -22.61 and a beta of -0.09. IDEAYA Biosciences, Inc. has a 1-year low of $20.96 and a 1-year high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The business had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $5.04 million. During the same quarter in the previous year, the firm posted ($0.82) EPS. The company’s revenue for the quarter was down 39.4% on a year-over-year basis. Equities analysts predict that IDEAYA Biosciences, Inc. will post -4.13 earnings per share for the current year.

Wall Street Analyst Weigh In

IDYA has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Truist Financial set a $65.00 target price on IDEAYA Biosciences in a research note on Monday, April 13th. Mizuho lowered their target price on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, Guggenheim boosted their price target on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.69.

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.