Pictet Asset Management Holding SA Reduces Holdings in IDEAYA Biosciences, Inc. $IDYA

Pictet Asset Management Holding SA lowered its position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 28.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 734,335 shares of the company’s stock after selling 298,664 shares during the period. Pictet Asset Management Holding SA’s holdings in IDEAYA Biosciences were worth $25,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Baker BROS. Advisors LP grew its position in IDEAYA Biosciences by 54.6% in the third quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock worth $89,125,000 after acquiring an additional 1,156,716 shares during the period. Millennium Management LLC increased its stake in IDEAYA Biosciences by 345.2% during the first quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock worth $8,970,000 after acquiring an additional 424,625 shares during the last quarter. Balyasny Asset Management L.P. raised its position in IDEAYA Biosciences by 1,619.5% in the third quarter. Balyasny Asset Management L.P. now owns 380,311 shares of the company’s stock valued at $10,348,000 after purchasing an additional 358,194 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of IDEAYA Biosciences by 191.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 497,048 shares of the company’s stock valued at $13,525,000 after purchasing an additional 326,376 shares during the last quarter. Finally, Fiera Capital Corp lifted its stake in shares of IDEAYA Biosciences by 20.0% in the 3rd quarter. Fiera Capital Corp now owns 1,837,967 shares of the company’s stock valued at $50,011,000 after purchasing an additional 305,698 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Trading Up 3.7%

Shares of NASDAQ IDYA opened at $29.10 on Friday. IDEAYA Biosciences, Inc. has a twelve month low of $16.82 and a twelve month high of $39.28. The stock has a fifty day simple moving average of $32.20 and a 200-day simple moving average of $32.88. The stock has a market capitalization of $2.56 billion, a PE ratio of -22.21 and a beta of 0.02.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, February 17th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.09. The firm had revenue of $10.88 million for the quarter, compared to analyst estimates of $5.95 million. During the same period in the previous year, the company posted ($1.49) EPS. IDEAYA Biosciences’s revenue was up 55.7% on a year-over-year basis. On average, equities analysts predict that IDEAYA Biosciences, Inc. will post -3.97 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on IDYA shares. Citigroup raised their price objective on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Royal Bank Of Canada upped their target price on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Wall Street Zen raised shares of IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. UBS Group initiated coverage on shares of IDEAYA Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target for the company. Finally, Truist Financial set a $65.00 price target on shares of IDEAYA Biosciences in a research note on Monday, April 13th. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.44.

Insiders Place Their Bets

In other IDEAYA Biosciences news, Director Jeffrey Stein purchased 50,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were bought at an average cost of $32.96 per share, for a total transaction of $1,648,000.00. Following the completion of the purchase, the director directly owned 54,281 shares of the company’s stock, valued at approximately $1,789,101.76. This trade represents a 1,167.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

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.