Barclays PLC Acquires 136,541 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Barclays PLC lifted its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 118.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 251,819 shares of the company’s stock after acquiring an additional 136,541 shares during the quarter. Barclays PLC’s holdings in Relay Therapeutics were worth $1,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new position in Relay Therapeutics in the second quarter worth about $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Relay Therapeutics in the 3rd quarter worth approximately $63,000. Portland Investment Counsel Inc. bought a new position in shares of Relay Therapeutics during the 3rd quarter worth approximately $71,000. Values First Advisors Inc. purchased a new stake in Relay Therapeutics during the third quarter valued at approximately $75,000. Finally, Point72 DIFC Ltd purchased a new stake in Relay Therapeutics during the third quarter valued at approximately $134,000. 96.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RLAY shares. HC Wainwright cut their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research report on Monday, September 16th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, 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 note on Wednesday, December 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Relay Therapeutics Stock Performance

Shares of RLAY stock opened at $4.45 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $4.00 and a fifty-two week high of $12.07. The firm has a market capitalization of $744.85 million, a PE ratio of -1.70 and a beta of 1.60. The stock’s 50-day simple moving average is $4.81 and its 200-day simple moving average is $6.32.

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

Insider Activity

In other news, CEO Sanjiv Patel sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $5.00, for a total value of $500,000.00. Following the completion of the transaction, the chief executive officer now owns 574,548 shares of the company’s stock, valued at $2,872,740. The trade was a 14.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction dated 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 directly owns 306,391 shares in the company, valued at approximately $1,856,729.46. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,319 shares of company stock valued at $781,067 in the last ninety days. Insiders own 4.32% of the company’s stock.

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.