Hudson Bay Capital Management LP Takes $944,000 Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Hudson Bay Capital Management LP acquired a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYAFree Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,000 shares of the company’s stock, valued at approximately $944,000. Hudson Bay Capital Management LP owned approximately 0.05% of IDEAYA Biosciences as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BVF Inc. IL grew its position in IDEAYA Biosciences by 131.5% in the second quarter. BVF Inc. IL now owns 5,683,489 shares of the company’s stock worth $133,562,000 after acquiring an additional 3,228,400 shares in the last quarter. BlackRock Inc. grew its position in IDEAYA Biosciences by 22.7% in the second quarter. BlackRock Inc. now owns 4,355,696 shares of the company’s stock worth $102,359,000 after acquiring an additional 806,603 shares in the last quarter. Commodore Capital LP purchased a new position in IDEAYA Biosciences in the second quarter worth about $18,212,000. Capital Research Global Investors purchased a new position in IDEAYA Biosciences in the second quarter worth about $17,009,000. Finally, Boone Capital Management LLC purchased a new position in IDEAYA Biosciences in the second quarter worth about $11,666,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IDYA. Capital One Financial reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Thursday, February 22nd. JPMorgan Chase & Co. raised their price objective on shares of IDEAYA Biosciences from $51.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. BTIG Research started coverage on shares of IDEAYA Biosciences in a research note on Friday, March 8th. They issued a “buy” rating and a $55.00 price objective for the company. Royal Bank of Canada raised their price objective on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Finally, Leerink Partnrs reissued an “outperform” rating on shares of IDEAYA Biosciences in a research note on Friday, February 23rd. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $40.42.

Check Out Our Latest Analysis on IDEAYA Biosciences

IDEAYA Biosciences Stock Down 1.1 %

Shares of NASDAQ:IDYA opened at $44.30 on Friday. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -22.49 and a beta of 0.81. IDEAYA Biosciences, Inc. has a 52 week low of $13.29 and a 52 week high of $47.74. The firm has a 50 day moving average of $43.56 and a 200 day moving average of $34.63.

IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). The business had revenue of $3.90 million during the quarter, compared to the consensus estimate of $8.84 million. IDEAYA Biosciences had a negative return on equity of 23.00% and a negative net margin of 483.05%. IDEAYA Biosciences’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, sell-side analysts expect that IDEAYA Biosciences, Inc. will post -2.26 EPS for the current year.

Insiders Place Their Bets

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of IDEAYA Biosciences stock in a transaction on Friday, February 9th. The shares were sold at an average price of $45.54, for a total value of $1,072,785.78. Following the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at $30,870,973.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other IDEAYA Biosciences news, insider Briseno Andres Ruiz sold 2,000 shares of IDEAYA Biosciences stock in a transaction on Friday, January 12th. The shares were sold at an average price of $38.01, for a total value of $76,020.00. Following the transaction, the insider now directly owns 28,531 shares of the company’s stock, valued at $1,084,463.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yujiro S. Hata sold 23,557 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at $30,870,973.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,557 shares of company stock valued at $4,336,062. 5.10% of the stock is currently owned by insiders.

IDEAYA Biosciences Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for IDEAYA Biosciences (NASDAQ:IDYA)

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