Palumbo Wealth Management LLC Increases Stake in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Palumbo Wealth Management LLC raised its stake in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 91.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,509 shares of the company’s stock after acquiring an additional 6,462 shares during the period. Palumbo Wealth Management LLC’s holdings in IDEAYA Biosciences were worth $347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd lifted its stake in IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after acquiring an additional 922 shares during the period. Allworth Financial LP lifted its stake in IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 800 shares during the period. R Squared Ltd bought a new position in IDEAYA Biosciences during the 4th quarter valued at about $35,000. US Bancorp DE lifted its stake in IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after acquiring an additional 689 shares during the period. Finally, KBC Group NV lifted its stake in IDEAYA Biosciences by 29.1% during the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after acquiring an additional 513 shares during the period. Institutional investors own 98.29% of the company’s stock.

Analysts Set New Price Targets

IDYA has been the topic of several research analyst reports. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Oppenheimer restated an “outperform” rating and set a $53.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Friday. Wedbush reiterated an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Trading Up 1.2 %

NASDAQ IDYA opened at $21.00 on Friday. IDEAYA Biosciences, Inc. has a 12 month low of $20.63 and a 12 month high of $47.74. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -9.01 and a beta of 0.82. The company’s 50 day moving average is $24.36 and its two-hundred day moving average is $29.97.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The business had revenue of $7.00 million for the quarter, compared to the consensus estimate of $7.00 million. Sell-side analysts forecast that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current year.

About IDEAYA Biosciences

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.