IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 66.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 284,267 shares of the company's stock after acquiring an additional 113,902 shares during the quarter. Renaissance Technologies LLC owned about 0.33% of IDEAYA Biosciences worth $7,306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Legal & General Group Plc raised its holdings in IDEAYA Biosciences by 7.9% during the fourth quarter. Legal & General Group Plc now owns 82,442 shares of the company's stock worth $2,119,000 after purchasing an additional 6,064 shares in the last quarter. FMR LLC raised its stake in IDEAYA Biosciences by 2.6% during the 4th quarter. FMR LLC now owns 12,963,151 shares of the company's stock worth $333,153,000 after acquiring an additional 327,498 shares in the last quarter. Trexquant Investment LP purchased a new stake in IDEAYA Biosciences in the fourth quarter valued at $2,754,000. Geode Capital Management LLC boosted its stake in IDEAYA Biosciences by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,988,681 shares of the company's stock valued at $51,121,000 after acquiring an additional 43,226 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of IDEAYA Biosciences during the fourth quarter worth about $701,000. Institutional investors and hedge funds own 98.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IDYA. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Stephens reiterated an "overweight" rating and issued a $50.00 price target on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, IDEAYA Biosciences has an average rating of "Moderate Buy" and a consensus target price of $53.58.

IDEAYA Biosciences Price Performance

Shares of IDYA stock traded up $0.29 during trading hours on Wednesday, reaching $18.92. 1,000,985 shares of the company's stock were exchanged, compared to its average volume of 948,159. The company's 50 day moving average is $18.11 and its two-hundred day moving average is $23.65. The company has a market cap of $1.66 billion, a P/E ratio of -5.73 and a beta of 0.51. IDEAYA Biosciences, Inc. has a 1 year low of $13.45 and a 1 year high of $44.42.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings data 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 business had revenue of $7.00 million during the quarter, compared to analysts' expectations of $7.00 million. As a group, analysts predict that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

About IDEAYA Biosciences

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.