284,508 Shares in Relay Therapeutics, Inc. (NASDAQ:RLAY) Purchased by BIT Capital GmbH

BIT Capital GmbH acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 284,508 shares of the company’s stock, valued at approximately $1,172,000.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC increased its position in shares of Relay Therapeutics by 160.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 4,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Relay Therapeutics in the third quarter worth $63,000. Portland Investment Counsel Inc. purchased a new position in Relay Therapeutics during the third quarter worth $71,000. Cibc World Markets Corp bought a new position in Relay Therapeutics during the fourth quarter valued at $47,000. Finally, E Fund Management Co. Ltd. raised its stake in shares of Relay Therapeutics by 52.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock valued at $73,000 after acquiring an additional 6,104 shares during the period. 96.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 140,182 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $539,700.70. Following the completion of the transaction, the chief executive officer now owns 625,948 shares of the company’s stock, valued at $2,409,899.80. The trade was a 18.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Peter Rahmer sold 16,576 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following the sale, the insider now owns 308,754 shares of the company’s stock, valued at approximately $1,373,955.30. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 470,152 shares of company stock valued at $1,991,157 over the last three months. 4.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group dropped their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Leerink Partners dropped their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. Stifel Nicolaus dropped their price objective on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Relay Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $19.80.

Relay Therapeutics Stock Down 3.4 %

Shares of NASDAQ:RLAY opened at $2.86 on Thursday. The business’s 50 day moving average is $3.90 and its 200 day moving average is $5.07. The stock has a market cap of $484.83 million, a P/E ratio of -1.10 and a beta of 1.65. Relay Therapeutics, Inc. has a 52-week low of $2.85 and a 52-week high of $10.72.

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

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.