Seven Fleet Capital Management LP Buys New Position in IDEAYA Biosciences, Inc. $IDYA

Seven Fleet Capital Management LP bought a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 86,283 shares of the company’s stock, valued at approximately $2,875,000. IDEAYA Biosciences makes up about 0.9% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 24th largest position. Seven Fleet Capital Management LP owned about 0.10% of IDEAYA Biosciences at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new position in shares of IDEAYA Biosciences in the third quarter valued at approximately $1,023,000. Profund Advisors LLC boosted its position in IDEAYA Biosciences by 127.7% during the fourth quarter. Profund Advisors LLC now owns 47,115 shares of the company’s stock worth $1,629,000 after acquiring an additional 26,424 shares during the last quarter. Strs Ohio acquired a new stake in IDEAYA Biosciences during the fourth quarter worth approximately $868,000. Wesbanco Bank Inc. boosted its position in IDEAYA Biosciences by 87.3% during the fourth quarter. Wesbanco Bank Inc. now owns 39,700 shares of the company’s stock worth $1,372,000 after acquiring an additional 18,500 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in IDEAYA Biosciences by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after acquiring an additional 97,116 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 26,466 shares in the company, valued at $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IDYA. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. The Goldman Sachs Group upped their target price on IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Wedbush reiterated an “outperform” rating and set a $58.00 target price on shares of IDEAYA Biosciences in a research report on Friday, June 12th. Finally, Mizuho decreased their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.25.

IDEAYA Biosciences Price Performance

NASDAQ IDYA opened at $35.50 on Friday. IDEAYA Biosciences, Inc. has a 1-year low of $22.09 and a 1-year high of $40.58. The firm has a market capitalization of $3.12 billion, a P/E ratio of -22.19 and a beta of -0.09. The business’s 50-day simple moving average is $33.69 and its 200-day simple moving average is $32.68.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The company had revenue of $6.56 million for the quarter, compared to analysts’ expectations of $5.04 million. During the same period in the previous year, the business posted ($0.82) earnings per share. The business’s quarterly revenue was down 39.4% on a year-over-year basis. On average, equities research analysts expect that IDEAYA Biosciences, Inc. will post -4.1 EPS for the current fiscal year.

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.