Squarepoint Ops LLC Buys 56,256 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Squarepoint Ops LLC boosted its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 127.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,502 shares of the company's stock after purchasing an additional 56,256 shares during the period. Squarepoint Ops LLC owned about 0.13% of IDEAYA Biosciences worth $3,529,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Samlyn Capital LLC grew its holdings in shares of IDEAYA Biosciences by 27.1% during the 2nd quarter. Samlyn Capital LLC now owns 611,820 shares of the company's stock valued at $21,481,000 after purchasing an additional 130,595 shares during the last quarter. Logos Global Management LP boosted its position in IDEAYA Biosciences by 13.3% in the second quarter. Logos Global Management LP now owns 1,700,000 shares of the company's stock valued at $59,687,000 after buying an additional 200,000 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of IDEAYA Biosciences during the second quarter worth $1,599,000. Hsbc Holdings PLC grew its stake in shares of IDEAYA Biosciences by 80.1% during the second quarter. Hsbc Holdings PLC now owns 15,269 shares of the company's stock worth $528,000 after buying an additional 6,789 shares during the last quarter. Finally, Sofinnova Investments Inc. increased its holdings in shares of IDEAYA Biosciences by 47.3% during the second quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company's stock worth $40,430,000 after buying an additional 369,932 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 equities research analysts recently weighed in on the company. Citigroup reduced their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Wedbush cut their target price on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped 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 note on Thursday, August 8th. Lifesci Capital upgraded shares of IDEAYA Biosciences to a "strong-buy" rating in a report on Monday, July 29th. Finally, Oppenheimer decreased their price objective on IDEAYA Biosciences from $60.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $56.00.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA traded up $0.97 during mid-day trading on Wednesday, hitting $31.70. The company had a trading volume of 828,393 shares, compared to its average volume of 865,959. IDEAYA Biosciences, Inc. has a one year low of $23.41 and a one year high of $47.74. The firm has a fifty day moving average price of $37.24 and a 200 day moving average price of $38.95. The company has a market capitalization of $2.40 billion, a PE ratio of -15.77 and a beta of 0.84.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same quarter last year, the business posted ($0.50) EPS. Research analysts expect that IDEAYA Biosciences, Inc. will post -2.51 earnings per share for the current fiscal year.

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.