BIT Capital GmbH Acquires New Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

BIT Capital GmbH acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 284,508 shares of the company's stock, valued at approximately $1,172,000. BIT Capital GmbH owned 0.17% of Relay Therapeutics as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC raised its position in shares of Relay Therapeutics by 160.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock valued at $27,000 after buying an additional 4,000 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of Relay Therapeutics during the fourth quarter worth $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Relay Therapeutics in the 3rd quarter valued at about $63,000. Portland Investment Counsel Inc. acquired a new stake in shares of Relay Therapeutics during the 3rd quarter worth approximately $71,000. Finally, E Fund Management Co. Ltd. grew its position in shares of Relay Therapeutics by 52.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company's stock worth $73,000 after buying an additional 6,104 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on RLAY shares. Stifel Nicolaus decreased their target price on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Leerink Partners dropped their price target 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 set a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. The Goldman Sachs Group reduced their price target on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, HC Wainwright reissued a "buy" rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.80.

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Relay Therapeutics Stock Down 5.0 %

RLAY traded down $0.14 during mid-day trading on Monday, reaching $2.59. 1,167,729 shares of the company traded hands, compared to its average volume of 2,325,893. The company's fifty day moving average price is $3.84 and its 200-day moving average price is $4.96. The stock has a market capitalization of $438.21 million, a P/E ratio of -0.99 and a beta of 1.65. Relay Therapeutics, Inc. has a 52-week low of $2.45 and a 52-week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.12. As a group, sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Relay Therapeutics news, CEO Sanjiv Patel sold 75,324 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $3.70, for a total value of $278,698.80. Following the sale, the chief executive officer now owns 883,089 shares in the company, valued at $3,267,429.30. The trade was a 7.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Rahmer sold 16,576 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.45, for a total value of $73,763.20. Following the transaction, the insider now directly owns 308,754 shares of the company's stock, valued at approximately $1,373,955.30. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 464,988 shares of company stock worth $1,968,344. 4.32% of the stock is owned by corporate insiders.

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.