The Manufacturers Life Insurance Company Makes New Investment in IDEAYA Biosciences, Inc. $IDYA

The Manufacturers Life Insurance Company bought a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the second quarter, Holdings Channel.com reports. The firm bought 107,585 shares of the company’s stock, valued at approximately $4,010,000.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of IDEAYA Biosciences by 171.1% during the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after purchasing an additional 580 shares during the last quarter. Quantbot Technologies LP acquired a new position in IDEAYA Biosciences during the 2nd quarter worth approximately $43,000. ANTIPODES PARTNERS Ltd lifted its stake in IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after purchasing an additional 380 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in IDEAYA Biosciences in the fourth quarter valued at approximately $61,000. Finally, Comerica Bank boosted its position in IDEAYA Biosciences by 36.5% in the fourth quarter. Comerica Bank now owns 2,514 shares of the company’s stock valued at $87,000 after buying an additional 672 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Price Performance

Shares of IDYA opened at $39.95 on Wednesday. The business has a 50-day moving average of $37.38 and a 200-day moving average of $33.28. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -20.59 and a beta of -0.07. IDEAYA Biosciences, Inc. has a 1 year low of $23.23 and a 1 year high of $42.68.

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). IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The firm had revenue of $8.86 million for the quarter, compared to analyst estimates of $8.02 million. During the same period in the prior year, the company posted ($0.88) EPS. The business’s revenue for the quarter was up 8800.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that IDEAYA Biosciences, Inc. will post -4.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IDYA shares. Mizuho lowered their price target on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Truist Financial cut their price objective on IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Friday, July 17th. Citigroup reaffirmed a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday. Finally, Wall Street Zen downgraded IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Sixteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $50.19.

Insider Activity at IDEAYA Biosciences

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

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.