Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Sold by Virtu Financial LLC

Virtu Financial LLC cut its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 68.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,046 shares of the company’s stock after selling 31,964 shares during the period. Virtu Financial LLC’s holdings in Relay Therapeutics were worth $62,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas boosted its position in shares of Relay Therapeutics by 19.5% during the 4th quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company’s stock worth $139,000 after purchasing an additional 5,492 shares during the period. Thrivent Financial for Lutherans lifted its stake in Relay Therapeutics by 3.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 166,668 shares of the company’s stock worth $687,000 after purchasing an additional 6,210 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Relay Therapeutics during the fourth quarter worth $47,000. HighTower Advisors LLC grew its stake in shares of Relay Therapeutics by 28.9% in the fourth quarter. HighTower Advisors LLC now owns 199,743 shares of the company’s stock valued at $823,000 after buying an additional 44,823 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its holdings in shares of Relay Therapeutics by 126.4% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 32,916 shares of the company’s stock valued at $136,000 after buying an additional 18,380 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other news, insider Peter Rahmer sold 16,576 shares of Relay Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.45, for a total transaction of $73,763.20. Following the sale, the insider now owns 308,754 shares in the company, valued at approximately $1,373,955.30. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjiv Patel sold 75,324 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,267,429.30. This trade represents a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 470,150 shares of company stock worth $1,983,004. Corporate insiders own 4.32% of the company’s stock.

Relay Therapeutics Stock Performance

NASDAQ:RLAY opened at $2.62 on Tuesday. Relay Therapeutics, Inc. has a 1 year low of $2.45 and a 1 year high of $10.72. The stock has a market cap of $444.15 million, a P/E ratio of -1.00 and a beta of 1.65. The stock has a 50-day simple moving average of $3.80 and a 200-day simple moving average of $4.93.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly 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. On average, equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

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.