Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Purchased by Congress Asset Management Co. MA

Congress Asset Management Co. MA increased its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 149,082 shares of the company’s stock after acquiring an additional 2,108 shares during the quarter. Congress Asset Management Co. MA owned approximately 0.11% of Relay Therapeutics worth $1,237,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC raised its stake in Relay Therapeutics by 25.7% during the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after purchasing an additional 2,850 shares during the period. Vanguard Group Inc. raised its stake in Relay Therapeutics by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,650,387 shares of the company’s stock worth $117,261,000 after purchasing an additional 98,025 shares during the period. BVF Inc. IL raised its stake in Relay Therapeutics by 67.8% during the fourth quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock worth $43,710,000 after purchasing an additional 1,604,240 shares during the period. Caxton Associates LP raised its stake in Relay Therapeutics by 637.3% during the fourth quarter. Caxton Associates LP now owns 279,101 shares of the company’s stock worth $3,073,000 after purchasing an additional 241,247 shares during the period. Finally, Pennant Investors LP purchased a new position in Relay Therapeutics during the fourth quarter worth approximately $467,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays raised shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research note on Friday, May 10th. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Relay Therapeutics in a research note on Friday, June 7th. JMP Securities reissued a “market outperform” rating and issued a $24.00 target price on shares of Relay Therapeutics in a research note on Monday, May 6th. Finally, Oppenheimer reissued an “outperform” rating and issued a $25.00 target price (down previously from $33.00) on shares of Relay Therapeutics in a research note on Monday, May 6th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $22.80.

Relay Therapeutics Stock Up 1.3 %

Relay Therapeutics stock opened at $6.94 on Friday. Relay Therapeutics, Inc. has a 12-month low of $5.70 and a 12-month high of $13.32. The firm’s fifty day moving average price is $6.79 and its 200 day moving average price is $8.63.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.08. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.66%. The firm had revenue of $10.01 million for the quarter, compared to the consensus estimate of $0.12 million. During the same quarter in the previous year, the firm posted ($0.78) EPS. The firm’s quarterly revenue was up 4327.9% on a year-over-year basis. Equities analysts anticipate that Relay Therapeutics, Inc. will post -2.81 EPS for the current year.

Insider Buying and Selling

In other Relay Therapeutics news, insider Peter Rahmer sold 20,450 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $7.06, for a total transaction of $144,377.00. Following the completion of the transaction, the insider now directly owns 432,425 shares of the company’s stock, valued at approximately $3,052,920.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 44,467 shares of company stock valued at $300,862 in the last quarter. Company insiders own 4.32% of the company’s stock.

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.