Biotechnology Value Fund L P Now Owns 5.10% of Ideaya Biosciences (IDYA)

Fintel reports that Biotechnology Value Fund L P
has filed a 13G form
with the SEC disclosing ownership of
2.46MM
shares of Ideaya Biosciences Inc (IDYA).

This represents 5.1% of the company.

In their previous filing dated February 14, 2023
they reported 2.21MM shares and 4.60% of the company,
an increase in shares of 11.34%
and
an increase in total ownership of
0.50% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 83.72% Upside

As of March 24, 2023,
the average one-year price target for Ideaya Biosciences is $26.18.
The forecasts range from a low of $17.17 to a high of $33.60.
The average price target represents an increase of 83.72% from its latest reported closing price of $14.25.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Ideaya Biosciences
is $17MM, a decrease of 66.14%.

The projected annual non-GAAP EPS
is -$2.65.

What is the Fund Sentiment?

There are 280 funds or institutions reporting positions in Ideaya Biosciences.

This is an increase
of
7
owner(s) or 2.56% in the last quarter.

Average portfolio weight of all funds dedicated to IDYA is 0.46%,
an increase
of 26.53%.

Total shares owned by institutions increased
in the last three months by 3.96% to 47,617K shares.

The put/call ratio of IDYA is 0.10, indicating a

bullish
outlook.

What are Large Shareholders Doing?

Logos Global Management
holds 3,900K shares

representing 8.06% ownership of the company.

In it’s prior filing, the firm reported owning 4,135K shares, representing
a decrease
of 6.03%.

The firm

increased

its portfolio allocation in IDYA by 9.46% over the last quarter.

Avidity Partners Management
holds 3,825K shares

representing 7.90% ownership of the company.

In it’s prior filing, the firm reported owning 3,715K shares, representing
an increase
of 2.86%.

The firm

increased

its portfolio allocation in IDYA by 33.59% over the last quarter.

Federated Hermes
holds 2,864K shares

representing 5.92% ownership of the company.

In it’s prior filing, the firm reported owning 2,862K shares, representing
an increase
of 0.08%.

The firm

increased

its portfolio allocation in IDYA by 15.04% over the last quarter.

Canaan Partners X
holds 2,661K shares

representing 5.50% ownership of the company.

No change in the last quarter.

Bvf
holds 2,205K shares

representing 4.56% ownership of the company.

In it’s prior filing, the firm reported owning 3,295K shares, representing
a decrease
of 49.42%.

The firm

decreased

its portfolio allocation in IDYA by 16.73% over the last quarter.

Ideaya Biosciences Background Information
(This description is provided by the company.)

IDEAYA Biosciences Inc. is a synthetic lethality-focused precision medicine oncology company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. IDEAYA’s approach integrates capabilities in identifying and validating translational biomarkers with drug discovery to select patient populations most likely to benefit from its targeted therapies. IDEAYA is applying its early research and drug discovery capabilities to synthetic lethality – which represents an emerging class of precision medicine targets.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.