Franklin Resources Inc. Lowers Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Franklin Resources Inc. lowered its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 95.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,805 shares of the company's stock after selling 1,338,037 shares during the quarter. Franklin Resources Inc.'s holdings in Relay Therapeutics were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RLAY. 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 worth $27,000 after purchasing an additional 4,000 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Relay Therapeutics during the fourth quarter valued at about $47,000. E Fund Management Co. Ltd. raised its stake in shares of Relay Therapeutics by 52.8% in the 4th 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. KLP Kapitalforvaltning AS acquired a new position in shares of Relay Therapeutics in the 4th quarter worth approximately $102,000. Finally, Savant Capital LLC acquired a new stake in Relay Therapeutics in the 4th quarter valued at approximately $120,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total value of $166,846.68. Following the transaction, the chief financial officer now directly owns 263,190 shares of the company's stock, valued at $1,218,569.70. The trade was a 12.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Rahmer sold 17,250 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $4.42, for a total transaction of $76,245.00. Following the sale, the insider now owns 402,431 shares of the company's stock, valued at approximately $1,778,745.02. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 296,418 shares of company stock worth $1,175,793 over the last 90 days. Corporate insiders own 4.32% of the company's stock.

Relay Therapeutics Stock Down 0.8 %

NASDAQ RLAY traded down $0.03 on Thursday, hitting $3.09. 346,529 shares of the stock were exchanged, compared to its average volume of 2,460,335. Relay Therapeutics, Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $10.72. The company has a 50-day moving average price of $3.05 and a 200-day moving average price of $4.35. The company has a market cap of $522.98 million, a PE ratio of -1.18 and a beta of 1.70.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its earnings results 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, equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RLAY shares. HC Wainwright restated a "buy" rating and set a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. The Goldman Sachs Group lowered their target price on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Stifel Nicolaus dropped 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. Finally, Wells Fargo & Company initiated coverage on shares of Relay Therapeutics in a research report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.36.

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.