Mesirow Financial Investment Management Inc. Sells 3,131 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Mesirow Financial Investment Management Inc. lessened its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 17.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,536 shares of the company’s stock after selling 3,131 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Relay Therapeutics were worth $103,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in Relay Therapeutics by 57.2% in the 1st quarter. Russell Investments Group Ltd. now owns 179,972 shares of the company’s stock valued at $1,494,000 after buying an additional 65,484 shares during the last quarter. Logos Global Management LP acquired a new stake in Relay Therapeutics in the 2nd quarter valued at approximately $8,476,000. Allspring Global Investments Holdings LLC bought a new position in Relay Therapeutics in the 1st quarter worth approximately $79,000. Los Angeles Capital Management LLC boosted its position in shares of Relay Therapeutics by 661.7% in the second quarter. Los Angeles Capital Management LLC now owns 106,169 shares of the company’s stock valued at $692,000 after acquiring an additional 92,230 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Relay Therapeutics by 19.1% in the second quarter. Renaissance Technologies LLC now owns 909,037 shares of the company’s stock worth $5,927,000 after acquiring an additional 145,837 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $5.81 on Thursday. Relay Therapeutics, Inc. has a fifty-two week low of $5.60 and a fifty-two week high of $12.14. The company’s 50 day simple moving average is $6.76 and its 200 day simple moving average is $7.01.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.14. The company’s revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.54) earnings per share. Equities research analysts predict that Relay Therapeutics, Inc. will post -2.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RLAY has been the subject of a number of research analyst reports. The Goldman Sachs Group began coverage on shares of Relay Therapeutics in a research report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price objective for the company. Bank of America lifted their price objective on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Barclays boosted their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.22.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the transaction, the chief financial officer now owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate 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.