Algert Global LLC Purchases 174,953 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Algert Global LLC raised its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 57.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 476,888 shares of the company’s stock after purchasing an additional 174,953 shares during the quarter. Algert Global LLC owned approximately 0.36% of Relay Therapeutics worth $3,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC bought a new position in Relay Therapeutics in the 2nd quarter worth about $37,000. Allspring Global Investments Holdings LLC purchased a new position in Relay Therapeutics during the first quarter valued at approximately $79,000. Virtu Financial LLC purchased a new position in Relay Therapeutics during the first quarter valued at approximately $87,000. Los Angeles Capital Management LLC increased its holdings in Relay Therapeutics by 25.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after acquiring an additional 2,850 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Relay Therapeutics in the 1st quarter worth approximately $127,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 7.5 %

Shares of NASDAQ:RLAY opened at $6.55 on Wednesday. The stock’s 50-day moving average price is $7.36 and its 200-day moving average price is $7.19. Relay Therapeutics, Inc. has a 12-month low of $5.70 and a 12-month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly 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 in the prior year, the business earned ($0.81) EPS. On average, equities research analysts predict that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RLAY has been the topic of several research analyst reports. Bank of America upped their price target 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. Oppenheimer cut shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. HC Wainwright raised their price objective on shares of Relay Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Barclays upped their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.11.

Insider Buying and Selling at Relay Therapeutics

In related news, insider Peter Rahmer sold 13,523 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $8.54, for a total value of $115,486.42. Following the sale, the insider now directly owns 420,765 shares of the company’s stock, valued at $3,593,333.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief financial officer now directly owns 319,650 shares of the company’s stock, valued at $2,736,204. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Rahmer sold 13,523 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $8.54, for a total value of $115,486.42. Following the transaction, the insider now owns 420,765 shares of the company’s stock, valued at approximately $3,593,333.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,717 shares of company stock worth $652,955. 4.32% of the stock is currently owned by company insiders.

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.