Prudential Financial Inc. Purchases 18,000 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Prudential Financial Inc. boosted its stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,935 shares of the company's stock after purchasing an additional 18,000 shares during the period. Prudential Financial Inc. owned about 0.12% of IDEAYA Biosciences worth $2,620,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of IDEAYA Biosciences during the fourth quarter worth $35,000. Daiwa Securities Group Inc. raised its position in IDEAYA Biosciences by 44.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company's stock valued at $72,000 after purchasing an additional 853 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of IDEAYA Biosciences during the third quarter valued at about $83,000. KBC Group NV boosted its stake in shares of IDEAYA Biosciences by 84.6% during the fourth quarter. KBC Group NV now owns 4,197 shares of the company's stock valued at $108,000 after purchasing an additional 1,923 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of IDEAYA Biosciences during the fourth quarter worth about $203,000. Institutional investors and hedge funds own 98.29% of the company's stock.

Wall Street Analysts Forecast Growth

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

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock traded down $0.64 on Tuesday, reaching $14.50. 2,349,283 shares of the company's stock were exchanged, compared to its average volume of 902,070. The company has a market capitalization of $1.27 billion, a P/E ratio of -4.39 and a beta of 0.51. IDEAYA Biosciences, Inc. has a 52 week low of $13.80 and a 52 week high of $44.42. The firm's 50-day moving average is $19.50 and its two-hundred day moving average is $24.69.

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