Entropy Technologies LP Decreases Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Entropy Technologies LP lowered its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 46.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,202 shares of the company’s stock after selling 10,607 shares during the period. Entropy Technologies LP’s holdings in Relay Therapeutics were worth $86,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new stake in shares of Relay Therapeutics during the second quarter worth about $37,000. Values First Advisors Inc. purchased a new stake in Relay Therapeutics in the 3rd quarter worth approximately $75,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Relay Therapeutics in the 1st quarter worth approximately $79,000. Virtu Financial LLC purchased a new position in shares of Relay Therapeutics during the first quarter valued at approximately $87,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Relay Therapeutics by 65.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 25,751 shares of the company’s stock valued at $182,000 after acquiring an additional 10,157 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Insider Transactions at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the transaction, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. This represents a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.32% of the company’s stock.

Relay Therapeutics Trading Down 8.7 %

Relay Therapeutics stock opened at $5.11 on Monday. Relay Therapeutics, Inc. has a 12 month low of $5.03 and a 12 month high of $12.14. The company has a market capitalization of $855.31 million, a price-to-earnings ratio of -1.96 and a beta of 1.67. The business’s fifty day simple moving average is $6.71 and its two-hundred day simple moving average is $6.99.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. The business’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.54) EPS. On average, equities research analysts predict that Relay Therapeutics, Inc. will post -2.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RLAY. Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $10.60 to $16.00 in a research report on Tuesday, September 10th. Oppenheimer downgraded shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. 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 research report on Tuesday, September 10th. Barclays increased their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. dropped their price target on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.22.

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.