Principal Financial Group Inc. Sells 4,968 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Principal Financial Group Inc. cut its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 39.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,720 shares of the company’s stock after selling 4,968 shares during the quarter. Principal Financial Group Inc.’s holdings in IDEAYA Biosciences were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp raised its position in 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 acquiring an additional 443,640 shares in the last quarter. Quest Partners LLC purchased a new position in IDEAYA Biosciences during the second quarter valued at $41,000. Scientech Research LLC boosted its holdings in IDEAYA Biosciences by 362.3% in the 2nd quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock worth $973,000 after buying an additional 21,714 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of IDEAYA Biosciences by 34.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company’s stock worth $31,056,000 after purchasing an additional 226,514 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in IDEAYA Biosciences by 24.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 104,553 shares of the company’s stock valued at $3,671,000 after acquiring an additional 20,607 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $25.69 on Tuesday. The company’s 50-day moving average is $27.23 and its 200-day moving average is $32.96. IDEAYA Biosciences, Inc. has a fifty-two week low of $24.20 and a fifty-two week high of $47.74. The firm has a market capitalization of $2.22 billion, a PE ratio of -11.03 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same quarter last year, the firm earned ($0.46) earnings per share. As a group, analysts expect that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current year.

Analysts Set New Price Targets

IDYA has been the subject of several analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. UBS Group started coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Leerink Partnrs downgraded IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.67.

About IDEAYA Biosciences

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.