Palumbo Wealth Management LLC Takes $223,000 Position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Palumbo Wealth Management LLC acquired a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,047 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors have also modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its stake in shares of IDEAYA Biosciences by 82.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,249 shares of the company’s stock worth $515,000 after acquiring an additional 7,356 shares during the last quarter. abrdn plc bought a new stake in shares of IDEAYA Biosciences during the 3rd quarter worth approximately $7,376,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of IDEAYA Biosciences by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock worth $94,000 after acquiring an additional 796 shares during the last quarter. Allworth Financial LP lifted its stake in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after acquiring an additional 800 shares during the last quarter. Finally, Values First Advisors Inc. bought a new stake in shares of IDEAYA Biosciences during the 3rd quarter worth approximately $74,000. 98.29% of the stock is owned by institutional investors.

IDEAYA Biosciences Trading Down 1.6 %

Shares of NASDAQ:IDYA traded down $0.46 on Thursday, reaching $29.00. The company had a trading volume of 38,044 shares, compared to its average volume of 845,655. IDEAYA Biosciences, Inc. has a 52-week low of $25.54 and a 52-week high of $47.74. The firm’s 50 day simple moving average is $33.57 and its 200-day simple moving average is $37.15. The firm has a market capitalization of $2.19 billion, a PE ratio of -14.66 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). During the same quarter last year, the firm posted ($0.50) earnings per share. As a group, equities research analysts predict that IDEAYA Biosciences, Inc. will post -2.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IDYA. BTIG Research raised their price target on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Citigroup reduced their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Stifel Nicolaus raised their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Wedbush reduced their price objective on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Finally, Cantor Fitzgerald began coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They set an “overweight” rating on the stock. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $55.45.

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.