Sio Capital Management LLC Makes New $3.90 Million Investment in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Sio Capital Management LLC acquired a new position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 123,000 shares of the company’s stock, valued at approximately $3,897,000. IDEAYA Biosciences makes up about 1.5% of Sio Capital Management LLC’s portfolio, making the stock its 19th largest position. Sio Capital Management LLC owned approximately 0.14% of IDEAYA Biosciences as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its stake in shares of IDEAYA Biosciences by 12.1% during the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company’s stock worth $400,297,000 after purchasing an additional 1,365,570 shares during the period. Vanguard Group Inc. boosted its position in shares of IDEAYA Biosciences by 19.6% during the first quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after buying an additional 679,985 shares during the period. Jennison Associates LLC grew its stake in shares of IDEAYA Biosciences by 136.6% during the third quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock valued at $30,801,000 after buying an additional 561,404 shares during the last quarter. Sofinnova Investments Inc. grew its stake in shares of IDEAYA Biosciences by 47.3% during the second quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock valued at $40,430,000 after buying an additional 369,932 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of IDEAYA Biosciences by 22.6% in the second quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock worth $46,886,000 after buying an additional 246,010 shares during the period. 98.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IDYA shares. Leerink Partners downgraded IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Leerink Partnrs cut shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Oppenheimer reissued an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Stifel Nicolaus boosted their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Wedbush reiterated an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Up 0.8 %

Shares of IDEAYA Biosciences stock opened at $26.99 on Friday. The company has a 50 day moving average price of $29.68 and a 200 day moving average price of $35.42. IDEAYA Biosciences, Inc. has a 52 week low of $25.20 and a 52 week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same period last year, the firm posted ($0.46) EPS. On average, equities analysts predict that IDEAYA Biosciences, Inc. will post -2.46 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.