New York State Common Retirement Fund Boosts Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

New York State Common Retirement Fund lifted its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 98.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,657 shares of the company’s stock after buying an additional 20,185 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of IDEAYA Biosciences worth $1,447,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. grew its position in shares of IDEAYA Biosciences by 14.8% during the 4th quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock valued at $138,185,000 after purchasing an additional 500,046 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in IDEAYA Biosciences by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,797 shares of the company’s stock worth $669,000 after acquiring an additional 486 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of IDEAYA Biosciences by 16.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,346 shares of the company’s stock valued at $1,258,000 after acquiring an additional 5,090 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of IDEAYA Biosciences by 405.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,453 shares of the company’s stock valued at $265,000 after acquiring an additional 5,979 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of IDEAYA Biosciences during the fourth quarter worth about $445,000. 98.29% of the stock is currently owned by institutional investors.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock opened at $40.64 on Friday. The company has a market capitalization of $3.04 billion, a P/E ratio of -20.22 and a beta of 0.83. IDEAYA Biosciences, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $47.74. The stock has a 50 day moving average price of $42.57 and a two-hundred day moving average price of $38.40.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 23.00%. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.49) EPS. As a group, equities analysts predict that IDEAYA Biosciences, Inc. will post -2.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Capital One Financial reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Thursday, February 22nd. Royal Bank of Canada increased their target price on IDEAYA Biosciences from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price target on IDEAYA Biosciences from $51.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Wedbush reiterated an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday. Finally, Leerink Partnrs reissued an “outperform” rating on shares of IDEAYA Biosciences in a report on Friday, February 23rd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $47.50.

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.