Fmr LLC Has $636,000 Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Fmr LLC increased its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 27.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,772 shares of the company’s stock after buying an additional 19,296 shares during the quarter. Fmr LLC owned 0.07% of Relay Therapeutics worth $636,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Algert Global LLC raised its position in Relay Therapeutics by 7.6% during the 3rd quarter. Algert Global LLC now owns 513,277 shares of the company’s stock worth $3,634,000 after purchasing an additional 36,389 shares during the last quarter. Valence8 US LP bought a new position in shares of Relay Therapeutics in the 3rd quarter worth $185,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Relay Therapeutics by 26.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after acquiring an additional 214,398 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Relay Therapeutics during the third quarter valued at approximately $256,000. Finally, First Turn Management LLC purchased a new stake in shares of Relay Therapeutics in the third quarter valued at about $8,683,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insider Activity

In other 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 transaction, the chief executive officer now owns 574,548 shares of the company’s stock, valued at approximately $2,872,740. The trade was a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction dated Monday, October 28th. The shares were 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. This trade represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,423 shares of company stock valued at $551,043 in the last quarter. 4.32% of the stock is currently owned by insiders.

Relay Therapeutics Price Performance

RLAY opened at $4.20 on Thursday. The stock has a 50-day moving average price of $5.48 and a 200-day moving average price of $6.66. Relay Therapeutics, Inc. has a 1 year low of $4.11 and a 1 year high of $12.14. The firm has a market cap of $703.01 million, a PE ratio of -1.61 and a beta of 1.59.

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

Analyst Ratings Changes

A number of analysts recently commented on RLAY shares. Leerink Partners dropped their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Bank of America raised their price target on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the company from $10.60 to $16.00 in a research report on Tuesday, September 10th. 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. Finally, Oppenheimer cut Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

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.