WCM Investment Management LLC Takes Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

WCM Investment Management LLC bought a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 241,894 shares of the company’s stock, valued at approximately $6,030,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its position in IDEAYA Biosciences by 12.1% during the third quarter. FMR LLC now owns 12,635,653 shares of the company’s stock worth $400,297,000 after acquiring an additional 1,365,570 shares during the period. RA Capital Management L.P. purchased a new stake in shares of IDEAYA Biosciences during the third quarter worth about $42,681,000. Janus Henderson Group PLC raised its position in shares of IDEAYA Biosciences by 26.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock worth $163,518,000 after purchasing an additional 1,086,356 shares during the last quarter. Jennison Associates LLC lifted its stake in IDEAYA Biosciences by 136.6% in the 3rd quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock valued at $30,801,000 after buying an additional 561,404 shares in the last quarter. Finally, State Street Corp boosted its holdings in IDEAYA Biosciences by 15.4% in the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after buying an additional 443,640 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Trading Down 4.0 %

NASDAQ IDYA opened at $23.00 on Monday. The stock has a fifty day simple moving average of $24.94 and a 200-day simple moving average of $30.61. The stock has a market cap of $1.99 billion, a PE ratio of -9.87 and a beta of 0.82. IDEAYA Biosciences, Inc. has a twelve month low of $22.10 and a twelve month high of $47.74.

Analysts Set New Price Targets

A number of brokerages have commented on IDYA. Leerink Partners cut IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $41.00 to $27.00 in a report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Leerink Partnrs cut shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. UBS Group began coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.67.

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.