Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock Holdings Increased by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 15.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,732,270 shares of the company’s stock after acquiring an additional 367,473 shares during the quarter. Geode Capital Management LLC owned about 2.04% of Relay Therapeutics worth $19,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Relay Therapeutics by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company’s stock worth $292,000 after buying an additional 2,547 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Relay Therapeutics during the second quarter valued at approximately $37,000. Rhumbline Advisers raised its holdings in Relay Therapeutics by 4.8% during the second quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock worth $1,069,000 after purchasing an additional 7,508 shares in the last quarter. Victory Capital Management Inc. lifted its position in Relay Therapeutics by 11.2% in the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock worth $499,000 after purchasing an additional 7,680 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Relay Therapeutics in the third quarter worth approximately $63,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $4.36 on Friday. Relay Therapeutics, Inc. has a one year low of $4.11 and a one year high of $12.14. The company’s fifty day moving average price is $5.14 and its two-hundred day moving average price is $6.51. The company has a market capitalization of $729.79 million, a price-to-earnings ratio of -1.67 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14. The business’s revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.54) EPS. As a group, sell-side analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

RLAY has been the subject of a number of research analyst reports. Barclays upped their price target on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. cut their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. HC Wainwright decreased their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $28.00 price target on shares of Relay Therapeutics in a report on Monday, September 16th. Finally, Bank of America raised their price objective on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.50.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the sale, the chief executive officer now owns 574,548 shares of the company’s stock, valued at $2,872,740. The trade was a 14.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total value 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. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,423 shares of company stock worth $551,043 in the last 90 days. 4.32% of the stock is owned by company insiders.

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.