Insider Buying: IDEAYA Biosciences (NASDAQ:IDYA) Director Acquires $1,648,000.00 in Stock

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Director Jeffrey Stein acquired 50,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average cost of $32.96 per share, with a total value of $1,648,000.00. Following the completion of the purchase, the director directly owned 54,281 shares in the company, valued at approximately $1,789,101.76. This represents a 1,167.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

IDEAYA Biosciences Trading Up 1.1%

Shares of NASDAQ IDYA opened at $34.68 on Thursday. The firm’s 50-day moving average price is $33.95 and its 200-day moving average price is $31.07. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -26.47 and a beta of 0.09. IDEAYA Biosciences, Inc. has a 12-month low of $13.45 and a 12-month high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09. The company had revenue of $21.75 million during the quarter, compared to analysts’ expectations of $5.95 million. During the same quarter in the prior year, the business posted ($1.49) EPS. The company’s revenue was up 55.7% on a year-over-year basis. On average, equities analysts predict that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IDYA shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $49.00 price target on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. UBS Group started coverage on IDEAYA Biosciences in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Mizuho lifted their target price on IDEAYA Biosciences from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Finally, Citigroup boosted their target price on shares of IDEAYA Biosciences from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.69.

Hedge Funds Weigh In On IDEAYA Biosciences

Institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of IDEAYA Biosciences by 11.8% in the 4th quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock worth $248,344,000 after purchasing an additional 758,117 shares during the period. Vanguard Group Inc. increased its holdings in IDEAYA Biosciences by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock valued at $173,518,000 after buying an additional 97,116 shares during the period. State Street Corp raised its stake in IDEAYA Biosciences by 27.6% in the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock worth $142,935,000 after buying an additional 893,707 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in IDEAYA Biosciences by 10.5% during the fourth quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company’s stock worth $125,103,000 after buying an additional 343,382 shares during the period. Finally, Fiera Capital Corp lifted its holdings in IDEAYA Biosciences by 32.6% during the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock worth $84,256,000 after buying an additional 599,295 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.