Flax Pond Capital LLC Takes Position in IDEAYA Biosciences, Inc. $IDYA

Flax Pond Capital LLC acquired a new stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 39,142 shares of the company’s stock, valued at approximately $1,353,000.

Other hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in IDEAYA Biosciences by 91.9% during the 4th quarter. Invesco Ltd. now owns 238,314 shares of the company’s stock worth $8,239,000 after acquiring an additional 114,118 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of IDEAYA Biosciences in the 4th quarter valued at about $2,288,000. Virtus Investment Advisers LLC raised its holdings in shares of IDEAYA Biosciences by 53.1% in the 4th quarter. Virtus Investment Advisers LLC now owns 7,819 shares of the company’s stock valued at $270,000 after purchasing an additional 2,712 shares in the last quarter. Susquehanna Portfolio Strategies LLC lifted its position in shares of IDEAYA Biosciences by 24.0% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 202,434 shares of the company’s stock worth $6,998,000 after purchasing an additional 39,171 shares during the period. Finally, Tang Capital Management LLC lifted its position in shares of IDEAYA Biosciences by 12.5% in the 4th quarter. Tang Capital Management LLC now owns 450,000 shares of the company’s stock worth $15,556,000 after purchasing an additional 50,000 shares during the period. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Stock Performance

IDYA stock opened at $31.23 on Friday. IDEAYA Biosciences, Inc. has a one year low of $20.50 and a one year high of $39.28. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -19.52 and a beta of -0.05. The firm has a 50-day simple moving average of $29.79 and a two-hundred day simple moving average of $32.33.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The firm had revenue of $6.56 million for the quarter, compared to analysts’ expectations of $5.04 million. The firm’s revenue was down 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. As a group, equities analysts predict that IDEAYA Biosciences, Inc. will post -4.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IDYA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Tuesday, April 21st. Royal Bank Of Canada boosted their price objective on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Wall Street Zen raised IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Mizuho cut their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $50.69.

IDEAYA Biosciences Profile

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.