Exchange Traded Concepts LLC Trims Stock Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Exchange Traded Concepts LLC reduced its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 22.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,649 shares of the company’s stock after selling 5,951 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Relay Therapeutics were worth $146,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Relay Therapeutics in the second quarter worth approximately $37,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Relay Therapeutics during the 1st quarter worth about $79,000. Virtu Financial LLC purchased a new stake in Relay Therapeutics in the 1st quarter valued at about $87,000. Los Angeles Capital Management LLC lifted its holdings 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 during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Relay Therapeutics in the 1st quarter valued at $127,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RLAY shares. Oppenheimer downgraded shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. Barclays raised their price target on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Relay Therapeutics in a report on Monday, October 14th. JPMorgan Chase & Co. reduced their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Finally, Bank of America raised their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.11.

Relay Therapeutics Trading Up 3.6 %

NASDAQ:RLAY opened at $6.66 on Wednesday. Relay Therapeutics, Inc. has a 1 year low of $5.70 and a 1 year high of $12.14. The firm’s fifty day simple moving average is $7.04 and its 200 day simple moving average is $7.07. The firm has a market capitalization of $891.71 million, a PE ratio of -2.64 and a beta of 1.64.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same quarter last year, the business earned ($0.81) EPS. As a group, analysts anticipate that Relay Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 13,523 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $8.54, for a total value of $115,486.42. Following the completion of the transaction, the insider now directly owns 420,765 shares of the company’s stock, valued at approximately $3,593,333.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Relay Therapeutics news, CEO Sanjiv Patel sold 36,706 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 766,130 shares in the company, valued at $6,948,799.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter Rahmer sold 13,523 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $8.54, for a total value of $115,486.42. Following the sale, the insider now directly owns 420,765 shares in the company, valued at approximately $3,593,333.10. This trade represents 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 quarter. 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.