Rhenman & Partners Asset Management AB Reduces Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Rhenman & Partners Asset Management AB trimmed its position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) by 35.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 82,000 shares of the company's stock after selling 45,500 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.09% of IDEAYA Biosciences worth $2,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IDYA. R Squared Ltd bought a new stake in shares of IDEAYA Biosciences during the fourth quarter valued at approximately $35,000. Daiwa Securities Group Inc. increased its holdings in shares of IDEAYA Biosciences by 44.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company's stock worth $72,000 after purchasing an additional 853 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of IDEAYA Biosciences in the third quarter worth $83,000. KBC Group NV lifted its holdings 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 purchased a new stake in shares of IDEAYA Biosciences during the fourth quarter valued at $203,000. 98.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

IDEAYA Biosciences Stock Down 3.8 %

NASDAQ:IDYA traded down $0.60 on Thursday, reaching $15.18. 762,051 shares of the company's stock traded hands, compared to its average volume of 912,394. The firm has a market cap of $1.33 billion, a PE ratio of -4.58 and a beta of 0.51. IDEAYA Biosciences, Inc. has a 12 month low of $13.45 and a 12 month high of $44.42. The stock has a 50-day simple moving average of $19.17 and a 200-day simple moving average of $24.50.

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

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.