NEOS Investment Management LLC Raises Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

NEOS Investment Management LLC increased its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,066 shares of the company’s stock after purchasing an additional 1,577 shares during the period. NEOS Investment Management LLC’s holdings in IDEAYA Biosciences were worth $413,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IDYA. R Squared Ltd purchased a new stake in IDEAYA Biosciences in the 4th quarter valued at about $35,000. Daiwa Securities Group Inc. grew its holdings in IDEAYA Biosciences by 44.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock valued at $72,000 after purchasing an additional 853 shares during the period. Quantbot Technologies LP acquired a new position in IDEAYA Biosciences during the third quarter worth approximately $83,000. KBC Group NV increased its position in IDEAYA Biosciences by 84.6% during the fourth quarter. KBC Group NV now owns 4,197 shares of the company’s stock worth $108,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new position in IDEAYA Biosciences during the fourth quarter worth approximately $203,000. 98.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IDYA shares. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Wedbush reiterated 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 restated an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.58.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $16.38 on Tuesday. The firm’s fifty day moving average price is $20.68 and its 200 day moving average price is $25.63. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -4.96 and a beta of 0.76. IDEAYA Biosciences, Inc. has a 12-month low of $15.94 and a 12-month high of $44.42.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The company had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million. Analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

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.