Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Bought by Barclays PLC

Barclays PLC raised its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 118.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,819 shares of the company's stock after buying an additional 136,541 shares during the period. Barclays PLC owned about 0.19% of Relay Therapeutics worth $1,783,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new position in Relay Therapeutics in the 2nd quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Relay Therapeutics in the third quarter worth about $63,000. Portland Investment Counsel Inc. bought a new stake in Relay Therapeutics during the 3rd quarter valued at about $71,000. Values First Advisors Inc. bought a new stake in Relay Therapeutics during the 3rd quarter valued at about $75,000. Finally, Point72 DIFC Ltd purchased a new stake in Relay Therapeutics in the 3rd quarter valued at about $134,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RLAY. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Oppenheimer cut Relay Therapeutics from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 10th. Jefferies Financial Group upgraded Relay Therapeutics from a "hold" rating to a "buy" rating and raised their price target for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. Leerink Partners lowered their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, December 4th. Finally, HC Wainwright cut 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 report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Relay Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.

Insiders Place Their Bets

In related news, CEO Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $5.00, for a total transaction 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 $2,872,740. The trade was a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 108,423 shares of company stock valued at $551,043. Insiders own 4.32% of the company's stock.

Relay Therapeutics Stock Performance

RLAY stock traded down $0.09 on Friday, hitting $4.36. 1,747,267 shares of the company's stock were exchanged, compared to its average volume of 1,567,140. The firm has a 50 day moving average price of $5.14 and a two-hundred day moving average price of $6.51. 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 $729.79 million, a P/E ratio of -1.67 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.14. Relay Therapeutics's quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.54) EPS. Sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share 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.