IDEAYA Biosciences, Inc. $IDYA Stake Trimmed by WCM Investment Management LLC

WCM Investment Management LLC cut its position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 17.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,593 shares of the company’s stock after selling 37,675 shares during the quarter. WCM Investment Management LLC owned 0.21% of IDEAYA Biosciences worth $5,711,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of IDEAYA Biosciences by 42.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,333,478 shares of the company’s stock valued at $44,418,000 after acquiring an additional 394,621 shares during the period. Jennison Associates LLC purchased a new position in IDEAYA Biosciences during the 1st quarter worth approximately $8,522,000. Allspring Global Investments Holdings LLC purchased a new position in IDEAYA Biosciences during the 1st quarter worth approximately $201,000. Bank of New York Mellon Corp raised its stake in IDEAYA Biosciences by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 250,325 shares of the company’s stock valued at $8,341,000 after purchasing an additional 6,284 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in IDEAYA Biosciences during the 1st quarter valued at $84,000. 98.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IDEAYA Biosciences

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $382,095.50. Following the transaction, the chief accounting officer owned 26,466 shares in the company, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is currently owned by company insiders.

IDEAYA Biosciences Trading Down 1.6%

IDYA opened at $35.45 on Tuesday. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -22.16 and a beta of -0.09. IDEAYA Biosciences, Inc. has a 1 year low of $21.33 and a 1 year high of $40.58. The stock has a fifty day moving average price of $32.41 and a 200 day moving average price of $32.65.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share 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 the consensus estimate of $5.04 million. IDEAYA Biosciences’s quarterly revenue was down 39.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.82) earnings per share. As a group, sell-side analysts forecast that IDEAYA Biosciences, Inc. will post -4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on IDYA. Mizuho decreased their target price on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Wells Fargo & Company raised their price objective on IDEAYA Biosciences from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Truist Financial dropped their target price on IDEAYA Biosciences from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Finally, Guggenheim increased 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 analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.25.

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.