Norges Bank Invests $13.39 Million in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Norges Bank acquired a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 520,810 shares of the company's stock, valued at approximately $13,385,000. Norges Bank owned about 0.60% of IDEAYA Biosciences as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its position in IDEAYA Biosciences by 15.4% during the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company's stock worth $105,112,000 after purchasing an additional 443,640 shares during the period. Vanguard Group Inc. grew its holdings in IDEAYA Biosciences by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company's stock worth $130,507,000 after acquiring an additional 282,936 shares during the period. WCM Investment Management LLC acquired a new position in IDEAYA Biosciences during the fourth quarter worth $6,030,000. JPMorgan Chase & Co. raised its position in IDEAYA Biosciences by 244.3% in the fourth quarter. JPMorgan Chase & Co. now owns 274,693 shares of the company's stock worth $7,060,000 after acquiring an additional 194,913 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of IDEAYA Biosciences by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company's stock worth $61,645,000 after purchasing an additional 172,838 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Trading Up 6.2 %

Shares of IDYA traded up $0.98 during midday trading on Friday, hitting $16.75. The stock had a trading volume of 1,555,053 shares, compared to its average volume of 924,816. The business has a 50-day simple moving average of $18.86 and a two-hundred day simple moving average of $24.30. IDEAYA Biosciences, Inc. has a fifty-two week low of $13.45 and a fifty-two week high of $44.42. The firm has a market cap of $1.47 billion, a P/E ratio of -5.08 and a beta of 0.51.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million. On average, analysts expect that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wedbush restated an "outperform" rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Finally, Stephens restated an "overweight" rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, IDEAYA Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $53.58.

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.