Marshall Wace LLP Purchases New Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Marshall Wace LLP acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 276,702 shares of the company’s stock, valued at approximately $1,804,000. Marshall Wace LLP owned about 0.21% of Relay Therapeutics at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RLAY. EverSource Wealth Advisors LLC bought a new position in shares of Relay Therapeutics during the second quarter worth about $37,000. Allspring Global Investments Holdings LLC bought a new position in Relay Therapeutics during the 1st quarter worth approximately $79,000. Virtu Financial LLC bought a new position in Relay Therapeutics during the 1st quarter worth approximately $87,000. Los Angeles Capital Management LLC grew its position in shares of Relay Therapeutics by 25.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after acquiring an additional 2,850 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Relay Therapeutics in the 1st quarter valued at approximately $127,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Stock Up 0.6 %

RLAY opened at $6.53 on Friday. Relay Therapeutics, Inc. has a twelve month low of $5.70 and a twelve month high of $12.14. The business’s 50 day moving average is $7.21 and its 200-day moving average is $7.17.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period last year, the business posted ($0.81) EPS. As a group, equities research analysts forecast that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. The Goldman Sachs Group started coverage on shares of Relay Therapeutics in a research report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price objective for the company. Barclays raised their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Bank of America upped their target price on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.11.

Insider Activity at Relay Therapeutics

In other news, insider Peter Rahmer sold 13,708 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $8.19, for a total value of $112,268.52. Following the completion of the sale, the insider now directly owns 391,929 shares of the company’s stock, valued at approximately $3,209,898.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Peter Rahmer sold 13,708 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $8.19, for a total transaction of $112,268.52. Following the completion of the transaction, the insider now owns 391,929 shares of the company’s stock, valued at $3,209,898.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas Catinazzo sold 10,780 shares of Relay Therapeutics stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $8.56, for a total value of $92,276.80. Following the transaction, the chief financial officer now directly owns 319,650 shares in the company, valued at approximately $2,736,204. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,717 shares of company stock worth $652,955 in the last 90 days. Corporate insiders own 4.32% of the company’s stock.

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.