Los Angeles Capital Management LLC Acquires 20,880 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Los Angeles Capital Management LLC increased its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 65.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,770 shares of the company’s stock after purchasing an additional 20,880 shares during the period. Los Angeles Capital Management LLC’s holdings in Relay Therapeutics were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Relay Therapeutics in the 3rd quarter valued at approximately $63,000. Portland Investment Counsel Inc. acquired a new position in Relay Therapeutics during the third quarter valued at approximately $71,000. Point72 DIFC Ltd bought a new position in shares of Relay Therapeutics in the third quarter valued at approximately $134,000. Erste Asset Management GmbH acquired a new stake in shares of Relay Therapeutics in the third quarter worth $172,000. Finally, Valence8 US LP bought a new stake in shares of Relay Therapeutics during the 3rd quarter worth $185,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Trading Down 0.3 %

RLAY opened at $3.19 on Wednesday. The stock’s 50 day simple moving average is $4.25 and its 200-day simple moving average is $5.46. The stock has a market cap of $533.95 million, a PE ratio of -1.22 and a beta of 1.61. Relay Therapeutics, Inc. has a 1 year low of $3.02 and a 1 year high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. Equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Peter Rahmer sold 16,576 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following the completion of the transaction, the insider now directly owns 308,754 shares of the company’s stock, valued at approximately $1,373,955.30. This represents a 5.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the completion of the sale, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. This represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 570,152 shares of company stock worth $2,491,157. Corporate insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RLAY. JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Stifel Nicolaus cut their price objective on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a research note on Tuesday, January 14th. Leerink Partners dropped their price target 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. Finally, The Goldman Sachs Group reduced their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.80.

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.