Teacher Retirement System of Texas Purchases 5,492 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Teacher Retirement System of Texas raised its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 19.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 33,720 shares of the company’s stock after purchasing an additional 5,492 shares during the period. Teacher Retirement System of Texas’ holdings in Relay Therapeutics were worth $139,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RLAY. Steward Partners Investment Advisory LLC lifted its stake in shares of Relay Therapeutics by 160.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock worth $27,000 after purchasing an additional 4,000 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in Relay Therapeutics by 52.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock valued at $73,000 after acquiring an additional 6,104 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Relay Therapeutics by 3.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 166,668 shares of the company’s stock valued at $687,000 after acquiring an additional 6,210 shares in the last quarter. Arizona State Retirement System grew its holdings in Relay Therapeutics by 30.0% in the fourth quarter. Arizona State Retirement System now owns 32,737 shares of the company’s stock worth $135,000 after purchasing an additional 7,547 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Relay Therapeutics during the third quarter worth $63,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling

In other Relay Therapeutics news, insider Peter Rahmer sold 16,576 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following the sale, the insider now directly owns 308,754 shares of the company’s stock, valued at approximately $1,373,955.30. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 75,324 shares of the business’s 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 owns 883,089 shares of the company’s stock, valued at $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. Over the last three months, insiders have sold 437,994 shares of company stock valued at $1,849,557. Corporate insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

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

Relay Therapeutics Price Performance

RLAY stock opened at $2.49 on Thursday. The company has a market capitalization of $422.11 million, a P/E ratio of -0.95 and a beta of 1.65. Relay Therapeutics, Inc. has a 12 month low of $2.36 and a 12 month high of $10.72. The firm’s fifty day simple moving average is $3.71 and its 200-day simple moving average is $4.87.

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