Barclays PLC Increases Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Barclays PLC lifted its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 118.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 251,819 shares of the company’s stock after purchasing an additional 136,541 shares during the period. Barclays PLC’s holdings in Relay Therapeutics were worth $1,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RLAY. Bank of New York Mellon Corp grew its position in Relay Therapeutics by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 354,667 shares of the company’s stock valued at $2,312,000 after acquiring an additional 48,219 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Relay Therapeutics by 304.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 38,656 shares of the company’s stock valued at $252,000 after purchasing an additional 29,087 shares during the period. Rhumbline Advisers grew its holdings in shares of Relay Therapeutics by 4.8% in the second quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock worth $1,069,000 after purchasing an additional 7,508 shares during the last quarter. Victory Capital Management Inc. increased its stake in Relay Therapeutics by 11.2% in the 2nd quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock worth $499,000 after buying an additional 7,680 shares during the period. Finally, Candriam S.C.A. lifted its holdings in Relay Therapeutics by 38.4% during the 2nd quarter. Candriam S.C.A. now owns 703,429 shares of the company’s stock valued at $4,586,000 after buying an additional 195,000 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the completion of the sale, the chief executive officer now directly owns 574,548 shares in the company, valued at $2,872,740. This trade represents a 14.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the transaction, the chief financial officer now owns 306,391 shares in the company, valued at $1,856,729.46. The trade was a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,423 shares of company stock worth $551,043 over the last three months. Corporate insiders own 4.32% of the company’s stock.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $4.36 on Friday. The stock’s 50-day moving average is $5.14 and its 200 day moving average is $6.51. Relay Therapeutics, Inc. has a 1-year low of $4.11 and a 1-year high of $12.14. The company has a market cap of $729.79 million, a P/E ratio of -1.67 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The business’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. On average, analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RLAY shares. HC Wainwright dropped their target price on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Relay Therapeutics Company 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.