Algert Global LLC Sells 24,193 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Algert Global LLC reduced its stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 65.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,676 shares of the company's stock after selling 24,193 shares during the quarter. Algert Global LLC's holdings in IDEAYA Biosciences were worth $445,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Scientech Research LLC raised its position in shares of IDEAYA Biosciences by 362.3% in the second quarter. Scientech Research LLC now owns 27,708 shares of the company's stock valued at $973,000 after purchasing an additional 21,714 shares during the period. Millennium Management LLC raised its holdings in IDEAYA Biosciences by 87.1% in the 2nd quarter. Millennium Management LLC now owns 258,606 shares of the company's stock worth $9,080,000 after acquiring an additional 120,395 shares during the period. D. E. Shaw & Co. Inc. lifted its position in IDEAYA Biosciences by 34.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company's stock worth $31,056,000 after acquiring an additional 226,514 shares during the last quarter. Squarepoint Ops LLC lifted its position in IDEAYA Biosciences by 127.1% during the 2nd quarter. Squarepoint Ops LLC now owns 100,502 shares of the company's stock worth $3,529,000 after acquiring an additional 56,256 shares during the last quarter. Finally, Samlyn Capital LLC boosted its holdings in IDEAYA Biosciences by 27.1% during the second quarter. Samlyn Capital LLC now owns 611,820 shares of the company's stock valued at $21,481,000 after acquiring an additional 130,595 shares during the period. Institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock traded up $1.65 during mid-day trading on Tuesday, reaching $31.06. The company's stock had a trading volume of 1,217,616 shares, compared to its average volume of 864,925. The firm's 50-day moving average is $36.48 and its two-hundred day moving average is $38.59. The company has a market cap of $2.35 billion, a P/E ratio of -15.67 and a beta of 0.82. IDEAYA Biosciences, Inc. has a 1-year low of $23.41 and a 1-year 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 the consensus estimate 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 quarter last year, the business posted ($0.50) earnings per share. Sell-side analysts anticipate that IDEAYA Biosciences, Inc. will post -2.51 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wedbush dropped their price objective on IDEAYA Biosciences from $54.00 to $52.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 24th. Oppenheimer dropped their price target on IDEAYA Biosciences from $60.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus increased their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. BTIG Research raised their price objective on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $56.00.

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.