E Fund Management Co. Ltd. Has $77,000 Stock Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

E Fund Management Co. Ltd. lessened its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 46.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,778 shares of the company’s stock after selling 10,152 shares during the period. E Fund Management Co. Ltd.’s holdings in Relay Therapeutics were worth $77,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Relay Therapeutics in the first quarter valued at $79,000. Virtu Financial LLC bought a new stake in Relay Therapeutics in the first quarter valued at approximately $87,000. Los Angeles Capital Management LLC lifted its position in shares of Relay Therapeutics by 25.7% in the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after buying an additional 2,850 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Relay Therapeutics during the 4th quarter worth approximately $126,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Relay Therapeutics during the 1st quarter worth approximately $127,000. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY opened at $7.86 on Friday. The business’s 50 day simple moving average is $7.60 and its 200 day simple moving average is $7.34. Relay Therapeutics, Inc. has a 1 year low of $5.70 and a 1 year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same period last year, the business earned ($0.81) EPS. On average, equities analysts predict that Relay Therapeutics, Inc. will post -2.86 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 9,373 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total value of $58,487.52. Following the completion of the transaction, the chief financial officer now directly owns 330,430 shares in the company, valued at approximately $2,061,883.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Thomas Catinazzo sold 9,373 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total transaction of $58,487.52. Following the sale, the chief financial officer now owns 330,430 shares in the company, valued at approximately $2,061,883.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Rahmer sold 13,708 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $8.19, for a total transaction of $112,268.52. Following the transaction, the insider now owns 391,929 shares of the company’s stock, valued at $3,209,898.51. The disclosure for this sale can be found here. Insiders have sold 84,738 shares of company stock worth $715,499 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a report on Tuesday. Bank of America lifted their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target on the stock. Oppenheimer downgraded shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a research report on Monday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.11.

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.