Caxton Associates LP Has $701,000 Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Caxton Associates LP lowered its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 17.8% during the second quarter, Holdings Channel.com reports. The fund owned 107,568 shares of the company’s stock after selling 23,248 shares during the period. Caxton Associates LP’s holdings in Relay Therapeutics were worth $701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RLAY. Norges Bank acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at about $33,789,000. BVF Inc. IL increased its position in shares of Relay Therapeutics by 67.8% in the fourth quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock valued at $43,710,000 after acquiring an additional 1,604,240 shares during the last quarter. Logos Global Management LP acquired a new stake in shares of Relay Therapeutics in the second quarter valued at about $8,476,000. Vanguard Group Inc. increased its position in shares of Relay Therapeutics by 10.9% in the first quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock valued at $98,070,000 after acquiring an additional 1,165,282 shares during the last quarter. Finally, Bellevue Group AG increased its position in shares of Relay Therapeutics by 21.5% in the fourth quarter. Bellevue Group AG now owns 5,936,082 shares of the company’s stock valued at $65,356,000 after acquiring an additional 1,051,082 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insider Transactions at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 10,780 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $8.56, for a total transaction of $92,276.80. Following the completion of the sale, the chief financial officer now owns 319,650 shares in the company, valued at $2,736,204. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sanjiv Patel sold 36,706 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the completion of the sale, the chief executive officer now directly owns 766,130 shares in the company, valued at $6,948,799.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas Catinazzo sold 10,780 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $8.56, for a total value of $92,276.80. Following the completion of the sale, the chief financial officer now owns 319,650 shares of the company’s stock, valued at $2,736,204. The disclosure for this sale can be found here. Insiders sold a total of 74,717 shares of company stock worth $652,955 over the last quarter. Company insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RLAY. Barclays lifted their target price on Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $10.60 to $16.00 in a report on Tuesday, September 10th. Oppenheimer cut Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Bank of America lifted their price target on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.11.

Relay Therapeutics Stock Up 4.8 %

Shares of NASDAQ:RLAY opened at $7.40 on Friday. Relay Therapeutics, Inc. has a 12-month low of $5.70 and a 12-month high of $12.14. The stock has a market cap of $990.79 million, a PE ratio of -2.80 and a beta of 1.64. The business has a 50 day moving average of $7.47 and a 200-day moving average of $7.25.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the prior year, the firm posted ($0.81) EPS. Equities research analysts expect that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current year.

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.