Cibc World Markets Corp Buys New Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Cibc World Markets Corp purchased a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,388 shares of the company’s stock, valued at approximately $47,000.

Several other large investors also recently bought and sold shares of RLAY. Thrivent Financial for Lutherans grew its holdings in Relay Therapeutics by 33.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 160,458 shares of the company’s stock valued at $1,137,000 after purchasing an additional 40,447 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Relay Therapeutics during the third quarter worth about $256,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Relay Therapeutics by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after acquiring an additional 214,398 shares in the last quarter. FMR LLC grew its stake in Relay Therapeutics by 27.4% during the 3rd quarter. FMR LLC now owns 89,772 shares of the company’s stock valued at $636,000 after purchasing an additional 19,296 shares in the last quarter. Finally, Ally Bridge Group NY LLC purchased a new stake in Relay Therapeutics during the 3rd quarter worth approximately $4,432,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Leerink Partners dropped their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target 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 on the stock in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a report on Friday, March 7th. Finally, The Goldman Sachs Group lowered their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.80.

Insider Buying and Selling at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 125,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $4.80, for a total value of $600,000.00. Following the sale, the chief executive officer now owns 324,548 shares of the company’s stock, valued at approximately $1,557,830.40. The trade was a 27.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Rahmer sold 32,156 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the sale, the insider now owns 357,507 shares of the company’s stock, valued at approximately $1,483,654.05. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 464,988 shares of company stock valued at $1,968,344. Company insiders own 4.32% of the company’s stock.

Relay Therapeutics Trading Up 4.5 %

NASDAQ RLAY opened at $2.99 on Friday. The company has a 50-day moving average price of $3.88 and a two-hundred day moving average price of $5.06. The stock has a market cap of $506.87 million, a price-to-earnings ratio of -1.15 and a beta of 1.65. Relay Therapeutics, Inc. has a 52 week low of $2.83 and a 52 week high of $10.72.

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

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.