VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 38,950 IDEAYA Biosciences, Inc. $IDYA

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 38,950 shares of the company’s stock, valued at approximately $1,452,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd increased its stake in IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after acquiring an additional 380 shares during the last quarter. Quantbot Technologies LP acquired a new position in IDEAYA Biosciences during the second quarter valued at approximately $43,000. Global Retirement Partners LLC bought a new stake in IDEAYA Biosciences during the fourth quarter worth $61,000. Daiwa Securities Group Inc. boosted its holdings in shares of IDEAYA Biosciences by 16.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after purchasing an additional 436 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of IDEAYA Biosciences in the 2nd quarter valued at $76,000. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $37.59 on Friday. IDEAYA Biosciences, Inc. has a 52 week low of $24.24 and a 52 week high of $42.68. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -19.38 and a beta of -0.07. The stock has a fifty day moving average of $37.73 and a 200-day moving average of $33.70.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.The firm had revenue of $8.86 million for the quarter, compared to the consensus estimate of $8.02 million. During the same quarter in the prior year, the firm earned ($0.88) EPS. The company’s revenue was up 8800.0% on a year-over-year basis. As a group, equities analysts forecast that IDEAYA Biosciences, Inc. will post -4.38 EPS for the current year.

Insider Activity at IDEAYA Biosciences

In other news, CAO Andres Ruiz Briseno sold 9,550 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $382,095.50. Following the sale, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.70% of the company’s stock.

Analyst Upgrades and Downgrades

IDYA has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. Wall Street Zen downgraded IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Wedbush raised their price target on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.69.

IDEAYA Biosciences Profile

IDEAYA Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for cancer. The company uses insights from tumor genetics and synthetic lethality—the targeting of vulnerabilities created by specific genetic alterations—to identify therapies intended for molecularly defined patient populations.

IDEAYA’s investigational pipeline includes darovasertib (IDE196), a protein kinase C inhibitor being studied in genetically defined cancers, including metastatic uveal melanoma associated with GNAQ or GNA11 mutations.