SG Americas Securities LLC Buys Shares of 55,084 Relay Therapeutics, Inc. (NASDAQ:RLAY)

SG Americas Securities LLC bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 55,084 shares of the company’s stock, valued at approximately $390,000.

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

Insider Activity

In other news, CEO Sanjiv Patel sold 36,706 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the completion of the sale, the chief executive officer now directly owns 766,130 shares of the company’s stock, valued at $6,948,799.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.07, for a total transaction of $332,923.42. Following the completion of the sale, the chief executive officer now directly owns 766,130 shares of the company’s stock, valued at approximately $6,948,799.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas Catinazzo sold 10,780 shares of Relay Therapeutics stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $8.56, for a total value of $92,276.80. Following the sale, the chief financial officer now directly owns 319,650 shares of the company’s stock, 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 a total of 74,717 shares of company stock valued at $652,955 over the last three months. Insiders own 4.32% of the company’s stock.

Relay Therapeutics Trading Down 2.4 %

RLAY opened at $6.64 on Friday. Relay Therapeutics, Inc. has a 52-week low of $5.70 and a 52-week high of $12.14. The business’s 50-day simple moving average is $7.03 and its 200 day simple moving average is $7.09.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RLAY shares. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Barclays upped their price objective on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Relay Therapeutics in a research report on Monday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.11.

About Relay Therapeutics

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.