Envestnet Asset Management Inc. Purchases 20,607 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Envestnet Asset Management Inc. raised its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 24.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,553 shares of the company's stock after purchasing an additional 20,607 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of IDEAYA Biosciences worth $3,671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IDYA. Ameritas Investment Partners Inc. boosted its position in IDEAYA Biosciences by 5.3% in the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company's stock valued at $288,000 after buying an additional 332 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of IDEAYA Biosciences by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 15,275 shares of the company's stock valued at $670,000 after acquiring an additional 648 shares in the last quarter. Nisa Investment Advisors LLC grew its position in IDEAYA Biosciences by 38.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company's stock worth $117,000 after acquiring an additional 927 shares during the last quarter. Covestor Ltd increased its holdings in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company's stock worth $49,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Quest Partners LLC bought a new position in IDEAYA Biosciences in the second quarter valued at about $41,000. Institutional investors own 98.29% of the company's stock.

Analysts Set New Price Targets

IDYA has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on IDEAYA Biosciences from $69.00 to $66.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Citigroup dropped their price target 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. Stifel Nicolaus lifted their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Lifesci Capital upgraded IDEAYA Biosciences to a "strong-buy" rating in a report on Monday, July 29th. Finally, Mizuho initiated coverage on IDEAYA Biosciences in a report on Monday, July 8th. They set an "outperform" rating and a $50.00 target price on the stock. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $56.00.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock traded down $2.45 during mid-day trading on Thursday, hitting $29.25. The company's stock had a trading volume of 889,167 shares, compared to its average volume of 866,081. The company has a market cap of $2.21 billion, a PE ratio of -14.55 and a beta of 0.84. The company's fifty day simple moving average is $37.24 and its 200-day simple moving average is $38.95. IDEAYA Biosciences, Inc. has a 52 week low of $23.41 and a 52 week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.52% and a negative net margin of 483.05%. During the same period in the prior year, the firm earned ($0.50) EPS. On average, equities analysts anticipate that IDEAYA Biosciences, Inc. will post -2.51 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.