Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 6.6% in the third quarter, Holdings Channel reports. The institutional investor owned 185,329 shares of the company’s stock after selling 13,073 shares during the quarter. Jane Street Group LLC’s holdings in Relay Therapeutics were worth $1,312,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RLAY. Stifel Nicolaus reissued a “buy” rating and set a $28.00 price target on shares of Relay Therapeutics in a research report on Monday, September 16th. Oppenheimer downgraded shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. Bank of America boosted their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Barclays raised their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, HC Wainwright lowered their target price on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $20.50.

Insider Buying and Selling

In other news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjiv Patel sold 100,000 shares of the company’s stock in a transaction 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 owns 574,548 shares of the company’s stock, valued at approximately $2,872,740. This trade represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,423 shares of company stock valued at $551,043 over the last 90 days. 4.32% of the stock is currently owned by company insiders.

Relay Therapeutics Trading Down 2.0 %

Shares of NASDAQ RLAY opened at $4.36 on Friday. Relay Therapeutics, Inc. has a 12-month low of $4.11 and a 12-month high of $12.14. The company has a market cap of $729.79 million, a PE ratio of -1.67 and a beta of 1.59. The stock has a 50 day simple moving average of $5.14 and a 200-day simple moving average of $6.51.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same period in the prior year, the company posted ($0.54) EPS. The business’s 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 fiscal year.

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.