Principal Financial Group Inc. Cuts Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Principal Financial Group Inc. lowered its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 39.2% in the third quarter, Holdings Channel reports. The fund owned 7,720 shares of the company’s stock after selling 4,968 shares during the period. Principal Financial Group Inc.’s holdings in IDEAYA Biosciences were worth $245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 800 shares during the last quarter. Quest Partners LLC purchased a new stake in IDEAYA Biosciences during the 2nd quarter worth about $41,000. US Bancorp DE boosted its position in shares of IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after acquiring an additional 689 shares in the last quarter. Comerica Bank increased its holdings in shares of IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after acquiring an additional 1,324 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of IDEAYA Biosciences by 637.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after acquiring an additional 1,684 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Stifel Nicolaus upped their price target on IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. UBS Group began coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price for the company. Citigroup cut their price target on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Cantor Fitzgerald assumed coverage on shares of IDEAYA Biosciences in a research note on Tuesday, October 15th. They issued an “overweight” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $26.54 on Tuesday. The business has a 50 day simple moving average of $30.18 and a 200-day simple moving average of $35.64. IDEAYA Biosciences, Inc. has a 12 month low of $25.20 and a 12 month high of $47.74. The stock has a market capitalization of $2.29 billion, a PE ratio of -11.39 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the previous year, the company posted ($0.46) EPS. As a group, equities research analysts anticipate 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.