Fmr LLC Purchases 19,296 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Fmr LLC raised its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 27.4% during the third quarter, HoldingsChannel.com reports. The firm owned 89,772 shares of the company’s stock after purchasing an additional 19,296 shares during the period. Fmr LLC’s holdings in Relay Therapeutics were worth $636,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Algert Global LLC boosted its holdings in Relay Therapeutics by 7.6% during the 3rd quarter. Algert Global LLC now owns 513,277 shares of the company’s stock valued at $3,634,000 after acquiring an additional 36,389 shares during the period. Valence8 US LP purchased a new position in shares of Relay Therapeutics during the third quarter valued at $185,000. Charles Schwab Investment Management Inc. lifted its stake in 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 during the period. Intech Investment Management LLC bought a new position in Relay Therapeutics during the 3rd quarter worth about $256,000. Finally, First Turn Management LLC purchased a new position in Relay Therapeutics during the 3rd quarter valued at about $8,683,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sanjiv Patel sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $5.00, for a total value of $500,000.00. Following the transaction, the chief executive officer now owns 574,548 shares in the company, valued at $2,872,740. This trade represents a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas Catinazzo sold 6,802 shares of the business’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 sale, the chief financial officer now owns 306,391 shares of the company’s stock, valued at $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,423 shares of company stock worth $551,043 in the last 90 days. Insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RLAY shares. Barclays increased their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the company from $10.60 to $16.00 in a research report on Tuesday, September 10th. Leerink Partners decreased their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group assumed coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $4.20 on Thursday. Relay Therapeutics, Inc. has a 1 year low of $4.11 and a 1 year high of $12.14. The company’s fifty day moving average price is $5.48 and its 200 day moving average price is $6.66. The company has a market capitalization of $703.01 million, a PE ratio of -1.61 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The company’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.54) EPS. On average, equities analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

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.