Rhumbline Advisers Acquires 13,532 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Rhumbline Advisers raised its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,444 shares of the company’s stock after acquiring an additional 13,532 shares during the period. Rhumbline Advisers owned about 0.10% of Relay Therapeutics worth $706,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RLAY. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Relay Therapeutics during the 3rd quarter valued at approximately $63,000. Portland Investment Counsel Inc. acquired a new stake in Relay Therapeutics in the third quarter valued at approximately $71,000. Savant Capital LLC bought a new stake in shares of Relay Therapeutics during the fourth quarter worth $120,000. Point72 DIFC Ltd acquired a new position in shares of Relay Therapeutics during the third quarter worth $134,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Relay Therapeutics by 37.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company’s stock valued at $146,000 after acquiring an additional 9,740 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 32,156 shares of Relay Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the sale, the insider now directly owns 357,507 shares of the company’s stock, valued at approximately $1,483,654.05. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00. Following the transaction, the chief executive officer now owns 574,548 shares in the company, valued at $2,872,740. This represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 570,152 shares of company stock worth $2,491,157 in the last 90 days. Corporate insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

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

Relay Therapeutics Stock Performance

NASDAQ:RLAY opened at $3.46 on Friday. Relay Therapeutics, Inc. has a 52 week low of $3.02 and a 52 week high of $10.72. The firm’s fifty day moving average is $4.19 and its 200-day moving average is $5.41. The firm has a market cap of $586.55 million, a P/E ratio of -1.33 and a beta of 1.65.

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

Relay Therapeutics 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.