Barclays PLC Grows Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Barclays PLC boosted its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 118.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 251,819 shares of the company’s stock after purchasing an additional 136,541 shares during the quarter. Barclays PLC owned about 0.15% of Relay Therapeutics worth $1,783,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RLAY. Bellevue Group AG increased its holdings in shares of Relay Therapeutics by 15.7% in the third quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock worth $52,230,000 after purchasing an additional 1,000,069 shares during the last quarter. State Street Corp grew its holdings in Relay Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 4,300,216 shares of the company’s stock valued at $30,446,000 after buying an additional 51,810 shares in the last quarter. Braidwell LP grew its holdings in Relay Therapeutics by 16.4% during the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock valued at $24,776,000 after buying an additional 492,628 shares in the last quarter. Geode Capital Management LLC increased its stake in Relay Therapeutics by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after acquiring an additional 367,473 shares during the last quarter. Finally, Eventide Asset Management LLC purchased a new stake in shares of Relay Therapeutics during the 3rd quarter worth approximately $18,989,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Thomas Catinazzo sold 6,802 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the sale, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Rahmer sold 16,576 shares of the 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 completion of the transaction, the insider now directly owns 308,754 shares in the company, valued at approximately $1,373,955.30. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,319 shares of company stock worth $781,067 over the last quarter. Company insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Leerink Partners cut their target price 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. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, HC Wainwright lowered their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Relay Therapeutics Trading Down 7.9 %

Shares of NASDAQ:RLAY opened at $4.45 on Friday. Relay Therapeutics, Inc. has a 12 month low of $4.00 and a 12 month high of $12.07. The company has a market capitalization of $744.85 million, a price-to-earnings ratio of -1.70 and a beta of 1.60. The firm’s 50-day moving average is $4.81 and its 200 day moving average is $6.32.

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

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.