Walleye Capital LLC Increases Stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Walleye Capital LLC raised its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 955.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 141,171 shares of the company’s stock after acquiring an additional 127,800 shares during the period. Walleye Capital LLC owned approximately 0.16% of IDEAYA Biosciences worth $4,472,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IDYA. Allworth Financial LP increased its stake in shares of IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after acquiring an additional 800 shares during the period. Covestor Ltd increased its position in IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after purchasing an additional 922 shares during the period. Quest Partners LLC acquired a new position in IDEAYA Biosciences during the 2nd quarter worth approximately $41,000. Comerica Bank lifted its holdings in shares of IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after buying an additional 1,324 shares during the period. Finally, US Bancorp DE boosted its stake in shares of IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after buying an additional 689 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IDYA. Leerink Partnrs lowered IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Citigroup reduced their price objective on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Stock Performance

IDYA stock opened at $27.36 on Monday. The stock’s 50 day moving average price is $29.53 and its 200 day moving average price is $35.23. The firm has a market cap of $2.36 billion, a P/E ratio of -11.74 and a beta of 0.86. IDEAYA Biosciences, Inc. has a 1 year low of $25.20 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period in the previous year, the company earned ($0.46) earnings per share. On average, research analysts predict that IDEAYA Biosciences, Inc. will post -2.46 earnings per share for the current year.

IDEAYA Biosciences 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.