Connor Clark & Lunn Investment Management Ltd. Decreases Stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 38.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,370 shares of the company’s stock after selling 30,947 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in IDEAYA Biosciences were worth $1,596,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP grew its stake in IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 800 shares in the last quarter. Covestor Ltd grew its position in shares of IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after purchasing an additional 922 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of IDEAYA Biosciences in the second quarter valued at approximately $41,000. US Bancorp DE lifted its position in IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after buying an additional 689 shares in the last quarter. Finally, Comerica Bank boosted its stake in IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after buying an additional 1,324 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Stock Down 0.9 %

Shares of IDYA opened at $26.54 on Tuesday. The company has a market cap of $2.29 billion, a P/E ratio of -11.39 and a beta of 0.86. IDEAYA Biosciences, Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $47.74. The firm’s 50 day moving average price is $30.18 and its 200 day moving average price is $35.64.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same period in the previous year, the business posted ($0.46) EPS. Research analysts forecast that IDEAYA Biosciences, Inc. will post -2.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on IDYA. UBS Group assumed coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a research note on Monday, November 4th. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Citigroup cut their price target on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Cantor Fitzgerald began coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They issued an “overweight” rating on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Company Profile

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.