Barclays PLC Acquires 136,541 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Barclays PLC lifted its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 118.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,819 shares of the company’s stock after purchasing an additional 136,541 shares during the period. Barclays PLC owned 0.19% of Relay Therapeutics worth $1,783,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Relay Therapeutics during the third quarter valued at about $367,000. XTX Topco Ltd lifted its position in shares of Relay Therapeutics by 27.9% during the 3rd quarter. XTX Topco Ltd now owns 47,271 shares of the company’s stock valued at $335,000 after buying an additional 10,311 shares in the last quarter. State Street Corp grew its stake in shares of Relay Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 4,300,216 shares of the company’s stock valued at $30,446,000 after acquiring an additional 51,810 shares during the period. Quarry LP purchased a new stake in Relay Therapeutics in the 3rd quarter worth approximately $255,000. Finally, Point72 DIFC Ltd bought a new stake in Relay Therapeutics during the 3rd quarter worth approximately $134,000. 96.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America upped 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. JPMorgan Chase & Co. dropped their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. Finally, Leerink Partners decreased their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Relay Therapeutics Trading Down 2.0 %

Shares of Relay Therapeutics stock opened at $4.36 on Friday. The firm has a market cap of $729.79 million, a PE ratio of -1.67 and a beta of 1.59. The stock has a 50 day moving average of $5.14 and a 200 day moving average of $6.51. Relay Therapeutics, Inc. has a 12 month low of $4.11 and a 12 month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.14. During the same period in the previous year, the firm earned ($0.54) EPS. The business’s quarterly revenue was down 100.0% compared to the same quarter last year. As a group, equities research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Activity at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $5.00, for a total transaction of $500,000.00. Following the sale, the chief executive officer now owns 574,548 shares in the company, valued at approximately $2,872,740. This represents a 14.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the transaction, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,423 shares of company stock valued at $551,043 over the last 90 days. 4.32% of the stock is owned by corporate insiders.

Relay Therapeutics 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.