Redmile Group LLC Sells 13,185 Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Redmile Group LLC trimmed its position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 922,678 shares of the company’s stock after selling 13,185 shares during the quarter. IDEAYA Biosciences makes up approximately 1.5% of Redmile Group LLC’s portfolio, making the stock its 24th largest holding. Redmile Group LLC’s holdings in IDEAYA Biosciences were worth $40,487,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IDYA. Covestor Ltd increased its position in IDEAYA Biosciences by 9,225.0% during the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after buying an additional 1,107 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in shares of IDEAYA Biosciences during the 1st quarter worth approximately $67,000. AJOVista LLC acquired a new position in shares of IDEAYA Biosciences during the 4th quarter worth approximately $99,000. SG Americas Securities LLC bought a new stake in IDEAYA Biosciences in the 1st quarter valued at $101,000. Finally, Bellevue Group AG bought a new position in IDEAYA Biosciences during the first quarter worth $145,000. 98.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IDYA shares. JPMorgan Chase & Co. raised their target price on shares of IDEAYA Biosciences from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $63.00 target price on shares of IDEAYA Biosciences in a research report on Monday, July 8th. Oppenheimer boosted their price target on IDEAYA Biosciences from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Royal Bank of Canada upped their price objective on IDEAYA Biosciences from $53.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Finally, BTIG Research lifted their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $52.92.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ:IDYA traded down $0.14 during midday trading on Monday, hitting $42.25. 611,000 shares of the stock were exchanged, compared to its average volume of 921,372. The business’s 50-day moving average price is $38.38 and its 200 day moving average price is $41.31. IDEAYA Biosciences, Inc. has a 12 month low of $21.22 and a 12 month high of $47.74. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -21.02 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same quarter in the prior year, the business earned ($0.49) EPS. The business’s revenue was down 100.0% compared to the same quarter last year. As a group, sell-side analysts expect that IDEAYA Biosciences, Inc. will post -2.22 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael Anthony White sold 28,500 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total transaction of $1,032,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Yujiro S. Hata sold 34,433 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.81, for a total transaction of $1,439,643.73. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at $28,342,455.47. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total transaction of $1,032,840.00. The disclosure for this sale can be found here. Insiders have sold a total of 119,644 shares of company stock valued at $4,832,228 over the last 90 days. 3.50% of the stock is owned by insiders.

IDEAYA Biosciences Company Profile

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.