Envestnet Asset Management Inc. Purchases 189,877 Shares of IDEAYA Biosciences, Inc. $IDYA

Envestnet Asset Management Inc. raised its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 174.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,032 shares of the company’s stock after buying an additional 189,877 shares during the quarter. Envestnet Asset Management Inc. owned 0.34% of IDEAYA Biosciences worth $8,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new position in shares of IDEAYA Biosciences in the second quarter valued at about $61,000. CWM LLC boosted its holdings in IDEAYA Biosciences by 33.0% in the 2nd quarter. CWM LLC now owns 3,153 shares of the company’s stock valued at $66,000 after purchasing an additional 782 shares during the period. Daiwa Securities Group Inc. grew its position in shares of IDEAYA Biosciences by 16.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after purchasing an additional 436 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of IDEAYA Biosciences by 39.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,344 shares of the company’s stock worth $70,000 after purchasing an additional 940 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of IDEAYA Biosciences by 59.1% in the second quarter. Osaic Holdings Inc. now owns 7,443 shares of the company’s stock valued at $148,000 after buying an additional 2,764 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

Wall Street Analyst Weigh In

IDYA has been the topic of a number of analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $49.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday. Wedbush increased their target price on IDEAYA Biosciences from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday. Wall Street Zen raised shares of IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, Mizuho raised their target price on shares of IDEAYA Biosciences from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, IDEAYA Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $48.69.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $32.90 on Friday. The business has a 50 day moving average of $34.23 and a 200-day moving average of $30.46. The company has a market capitalization of $2.89 billion, a P/E ratio of -25.11 and a beta of 0.10. IDEAYA Biosciences, Inc. has a 1 year low of $13.45 and a 1 year high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.09. The business had revenue of $21.75 million during the quarter, compared to the consensus estimate of $5.95 million. The business’s revenue for the quarter was up 55.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.49) EPS. Equities analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.