Man Group plc Takes Position in IDEAYA Biosciences, Inc. $IDYA

Man Group plc bought a new stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 245,492 shares of the company’s stock, valued at approximately $9,149,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of IDEAYA Biosciences by 171.1% in the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after acquiring an additional 580 shares during the period. ANTIPODES PARTNERS Ltd increased its position in IDEAYA Biosciences by 49.4% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after acquiring an additional 380 shares during the last quarter. Quantbot Technologies LP bought a new position in IDEAYA Biosciences in the second quarter valued at about $43,000. Global Retirement Partners LLC bought a new position in IDEAYA Biosciences in the fourth quarter valued at about $61,000. Finally, Daiwa Securities Group Inc. boosted its position in IDEAYA Biosciences by 16.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after purchasing an additional 436 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer owned 26,466 shares of the company’s stock, valued at $1,058,904.66. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.70% of the stock is currently owned by corporate insiders.

IDEAYA Biosciences Price Performance

IDYA opened at $40.11 on Friday. The firm has a market cap of $3.52 billion, a P/E ratio of -20.68 and a beta of -0.10. IDEAYA Biosciences, Inc. has a 1-year low of $23.23 and a 1-year high of $42.68. The company has a 50 day simple moving average of $37.17 and a two-hundred day simple moving average of $33.17.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). The firm had revenue of $8.86 million for the quarter, compared to analysts’ expectations of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The firm’s quarterly revenue was up 8800.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.88) EPS. Equities analysts anticipate that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IDYA shares. Mizuho reduced their price target on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada cut their target price on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Wedbush increased their price target on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Finally, Wall Street Zen lowered IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.12.

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.