Candriam S.C.A. Acquires 636,494 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Candriam S.C.A. increased its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 58.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,729,199 shares of the company's stock after acquiring an additional 636,494 shares during the quarter. Candriam S.C.A. owned about 1.03% of Relay Therapeutics worth $7,124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Relay Therapeutics by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company's stock worth $7,333,000 after acquiring an additional 214,398 shares during the period. Maven Securities LTD acquired a new position in shares of Relay Therapeutics in the third quarter worth approximately $2,389,000. Geode Capital Management LLC lifted its stake in shares of Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company's stock worth $19,348,000 after acquiring an additional 367,473 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company's stock worth $39,064,000 after acquiring an additional 1,554,115 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Relay Therapeutics by 3,883.8% in the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company's stock worth $9,429,000 after acquiring an additional 1,361,779 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

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

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY traded up $0.20 during trading on Tuesday, reaching $3.47. 2,620,878 shares of the stock were exchanged, compared to its average volume of 2,247,317. Relay Therapeutics, Inc. has a 1-year low of $3.02 and a 1-year high of $10.72. The stock has a fifty day moving average of $4.17 and a two-hundred day moving average of $5.35. The firm has a market cap of $588.24 million, a price-to-earnings ratio of -1.33 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.12. Sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 100,000 shares of the company's stock in a transaction on 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 in the company, valued at approximately $2,872,740. This represents a 14.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Peter Rahmer sold 32,156 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the transaction, the insider now owns 357,507 shares of the company's stock, valued at $1,483,654.05. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 570,152 shares of company stock worth $2,491,157. 4.32% of the stock is owned by corporate insiders.

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.