KLP Kapitalforvaltning AS Invests $383,000 in IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

KLP Kapitalforvaltning AS bought a new position in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 14,900 shares of the company’s stock, valued at approximately $383,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rhumbline Advisers raised its stake in shares of IDEAYA Biosciences by 0.5% in the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company’s stock worth $2,919,000 after buying an additional 585 shares during the period. Daiwa Securities Group Inc. increased its holdings in IDEAYA Biosciences by 44.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock worth $72,000 after acquiring an additional 853 shares in the last quarter. Assetmark Inc. increased its holdings in IDEAYA Biosciences by 2.5% in the 4th quarter. Assetmark Inc. now owns 45,269 shares of the company’s stock worth $1,163,000 after acquiring an additional 1,084 shares in the last quarter. R Squared Ltd bought a new stake in IDEAYA Biosciences during the 4th quarter worth approximately $35,000. Finally, Handelsbanken Fonder AB lifted its holdings in IDEAYA Biosciences by 8.1% during the fourth quarter. Handelsbanken Fonder AB now owns 25,300 shares of the company’s stock valued at $650,000 after purchasing an additional 1,900 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA opened at $14.71 on Friday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -4.46 and a beta of 0.51. IDEAYA Biosciences, Inc. has a 1 year low of $14.40 and a 1 year high of $44.42. The stock’s 50 day simple moving average is $20.05 and its two-hundred day simple moving average is $25.19.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The company had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $7.00 million. As a group, analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on IDYA shares. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Wedbush reiterated an “outperform” rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.58.

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.