Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 28.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 199,743 shares of the company’s stock after purchasing an additional 44,823 shares during the quarter. HighTower Advisors LLC owned 0.12% of Relay Therapeutics worth $823,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its stake in Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after buying an additional 4,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Relay Therapeutics during the 3rd quarter valued at about $63,000. Portland Investment Counsel Inc. acquired a new position in shares of Relay Therapeutics in the 3rd quarter worth approximately $71,000. E Fund Management Co. Ltd. raised its holdings in shares of Relay Therapeutics by 52.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock worth $73,000 after purchasing an additional 6,104 shares in the last quarter. Finally, Savant Capital LLC acquired a new stake in Relay Therapeutics during the fourth quarter valued at approximately $120,000. Institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 75,324 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $3.70, for a total value of $278,698.80. Following the completion of the sale, the chief executive officer now directly owns 883,089 shares in the company, valued at $3,267,429.30. The trade was a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Catinazzo sold 36,036 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total transaction of $166,846.68. Following the completion of the sale, the chief financial officer now directly owns 263,190 shares of the company’s stock, valued at $1,218,569.70. This represents a 12.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 464,988 shares of company stock worth $1,968,344 over the last 90 days. 4.32% of the stock is currently owned by corporate insiders.

Relay Therapeutics Stock Performance

RLAY stock opened at $2.99 on Friday. The firm has a 50 day simple moving average of $3.88 and a 200 day simple moving average of $5.06. Relay Therapeutics, Inc. has a 52 week low of $2.83 and a 52 week high of $10.72. The stock has a market cap of $506.87 million, a P/E ratio of -1.15 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. Sell-side analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Analysts Set New Price Targets

RLAY has been the topic of several recent research reports. Leerink Partners decreased their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. The Goldman Sachs Group reduced their target price on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus dropped their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.80.

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.