Fifth Lane Capital LP Invests $932,000 in IDEAYA Biosciences, Inc. $IDYA

Fifth Lane Capital LP acquired a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,237 shares of the company’s stock, valued at approximately $932,000. IDEAYA Biosciences makes up 0.8% of Fifth Lane Capital LP’s portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC acquired a new position in IDEAYA Biosciences in the 3rd quarter valued at about $58,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of IDEAYA Biosciences during the second quarter worth about $61,000. Daiwa Securities Group Inc. raised its position in shares of IDEAYA Biosciences by 16.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after buying an additional 436 shares during the last quarter. CWM LLC raised its position in shares of IDEAYA Biosciences by 33.0% in the second quarter. CWM LLC now owns 3,153 shares of the company’s stock valued at $66,000 after buying an additional 782 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of IDEAYA Biosciences by 39.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,344 shares of the company’s stock valued at $70,000 after buying an additional 940 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $49.00 target price on shares of IDEAYA Biosciences in a research note on Wednesday, February 18th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Truist Financial lifted their price objective on IDEAYA Biosciences from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Guggenheim reiterated a “buy” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Finally, Citigroup raised their price target on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Fifteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.69.

IDEAYA Biosciences Stock Up 0.7%

Shares of IDYA stock opened at $31.90 on Friday. IDEAYA Biosciences, Inc. has a fifty-two week low of $13.45 and a fifty-two week high of $39.28. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -24.35 and a beta of 0.10. The firm’s 50 day moving average price is $34.06 and its two-hundred day moving average price is $30.75.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09. The company had revenue of $21.75 million for the quarter, compared to analyst estimates of $5.95 million. The business’s revenue was up 55.7% on a year-over-year basis. During the same period last year, the firm posted ($1.49) earnings per share. On average, equities analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

IDEAYA Biosciences Company 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.