26,200 Shares in Relay Therapeutics, Inc. (NASDAQ:RLAY) Bought by Valence8 US LP

Valence8 US LP acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 26,200 shares of the company’s stock, valued at approximately $185,000.

A number of other institutional investors have also added to or reduced their stakes in the company. American International Group Inc. raised its position in shares of Relay Therapeutics by 4.0% in the 1st quarter. American International Group Inc. now owns 46,686 shares of the company’s stock worth $387,000 after purchasing an additional 1,810 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Relay Therapeutics by 6.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company’s stock valued at $292,000 after acquiring an additional 2,547 shares in the last quarter. ProShare Advisors LLC boosted its stake in Relay Therapeutics by 14.9% during the 1st quarter. ProShare Advisors LLC now owns 26,214 shares of the company’s stock valued at $218,000 after purchasing an additional 3,394 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Relay Therapeutics in the 2nd quarter worth $37,000. Finally, Swiss National Bank raised its stake in shares of Relay Therapeutics by 4.5% in the first quarter. Swiss National Bank now owns 163,500 shares of the company’s stock worth $1,357,000 after purchasing an additional 7,100 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now directly owns 306,391 shares in the company, valued at $1,856,729.46. This trade represents a 2.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.32% of the company’s stock.

Relay Therapeutics Stock Down 0.4 %

Shares of RLAY opened at $4.64 on Friday. The business has a 50-day simple moving average of $6.42 and a two-hundred day simple moving average of $6.93. Relay Therapeutics, Inc. has a 52 week low of $4.48 and a 52 week high of $12.14. The stock has a market cap of $776.64 million, a price-to-earnings ratio of -1.78 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. During the same period in the prior year, the company earned ($0.54) EPS. The company’s revenue was down 100.0% on a year-over-year basis. On average, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RLAY has been the subject of a number of recent analyst reports. HC Wainwright boosted their target price on Relay Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.60 to $16.00 in a report on Tuesday, September 10th. Oppenheimer cut Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Bank of America lifted their price objective on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.22.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company’s lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.