Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Purchased by State Street Corp

State Street Corp boosted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 1.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,300,216 shares of the company’s stock after buying an additional 51,810 shares during the period. State Street Corp’s holdings in Relay Therapeutics were worth $30,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other Relay Therapeutics news, CEO Sanjiv Patel sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the transaction, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. This represents a 14.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now owns 306,391 shares of the company’s stock, 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. Over the last 90 days, insiders sold 108,423 shares of company stock valued at $551,043. Corporate insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RLAY. JMP Securities restated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Bank of America boosted their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group upgraded 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 report on Tuesday, September 10th. The Goldman Sachs Group began coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Oppenheimer cut shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Relay Therapeutics Trading Down 2.3 %

Shares of RLAY opened at $4.16 on Friday. Relay Therapeutics, Inc. has a 12-month low of $4.11 and a 12-month high of $12.14. The stock has a market cap of $696.31 million, a P/E ratio of -1.59 and a beta of 1.59. The company has a 50-day moving average of $5.38 and a two-hundred day moving average of $6.62.

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