Intellectus Partners LLC Sells 6,250 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Intellectus Partners LLC lessened its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 9.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 61,425 shares of the company’s stock after selling 6,250 shares during the period. Intellectus Partners LLC’s holdings in Relay Therapeutics were worth $253,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings in shares of Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after acquiring an additional 4,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Relay Therapeutics during the 3rd quarter valued at about $63,000. Portland Investment Counsel Inc. bought a new stake in Relay Therapeutics during the 3rd quarter valued at about $71,000. E Fund Management Co. Ltd. raised its holdings in Relay Therapeutics by 52.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock worth $73,000 after buying an additional 6,104 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Relay Therapeutics in the third quarter worth approximately $134,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 0.6 %

Relay Therapeutics stock opened at $3.46 on Friday. Relay Therapeutics, Inc. has a 52-week low of $3.02 and a 52-week high of $10.72. The company has a market cap of $586.55 million, a P/E ratio of -1.33 and a beta of 1.65. The business has a 50-day simple moving average of $4.19 and a two-hundred day simple moving average of $5.39.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.12. Research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity

In other news, CFO Thomas Catinazzo sold 36,036 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total value of $166,846.68. Following the transaction, the chief financial officer now owns 263,190 shares of the company’s stock, valued at $1,218,569.70. This trade represents a 12.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Rahmer sold 16,576 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.45, for a total value of $73,763.20. Following the transaction, the insider now owns 308,754 shares of the company’s stock, valued at approximately $1,373,955.30. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 570,152 shares of company stock valued at $2,491,157 in the last 90 days. Company insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Leerink Partners reduced 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 report on Wednesday, December 4th. Stifel Nicolaus reduced their target price on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group lowered their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.80.

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.