Platinum Investment Management Ltd. Has $3.93 Million Stock Holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Platinum Investment Management Ltd. increased its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,713 shares of the company’s stock after purchasing an additional 7,996 shares during the period. Platinum Investment Management Ltd.’s holdings in IDEAYA Biosciences were worth $3,925,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. FMR LLC increased its holdings in shares of IDEAYA Biosciences by 12.1% during the third quarter. FMR LLC now owns 12,635,653 shares of the company’s stock worth $400,297,000 after buying an additional 1,365,570 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of IDEAYA Biosciences by 26.7% during the third quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock valued at $163,518,000 after purchasing an additional 1,086,356 shares during the last quarter. State Street Corp grew its stake in shares of IDEAYA Biosciences by 15.4% during the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after purchasing an additional 443,640 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of IDEAYA Biosciences by 9.8% during the third quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company’s stock valued at $61,645,000 after purchasing an additional 172,838 shares during the last quarter. Finally, RA Capital Management L.P. bought a new stake in shares of IDEAYA Biosciences during the third quarter valued at approximately $42,681,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Down 3.5 %

Shares of IDYA stock opened at $18.47 on Wednesday. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -5.60 and a beta of 0.76. IDEAYA Biosciences, Inc. has a 12-month low of $16.95 and a 12-month high of $46.40. The firm has a fifty day moving average of $21.68 and a 200-day moving average of $26.86.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The company had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $7.00 million. Research analysts expect that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on IDYA. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Stephens reaffirmed an “overweight” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a report on Friday, February 14th. Wedbush reaffirmed an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $53.58.

IDEAYA Biosciences 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.