JPMorgan Chase & Co. Has $20.51 Million Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

JPMorgan Chase & Co. lessened its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,978,443 shares of the company's stock after selling 539,073 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.97% of Relay Therapeutics worth $20,511,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings 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 purchasing an additional 4,000 shares during the period. Cibc World Markets Corp purchased a new position in Relay Therapeutics during the fourth quarter valued at approximately $47,000. E Fund Management Co. Ltd. grew its position in Relay Therapeutics by 52.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company's stock valued at $73,000 after purchasing an additional 6,104 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Relay Therapeutics in the 4th quarter valued at approximately $102,000. Finally, Savant Capital LLC purchased a new stake in Relay Therapeutics in the 4th quarter worth approximately $120,000. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Price Performance

RLAY traded up $0.10 on Tuesday, hitting $2.67. The company had a trading volume of 1,318,742 shares, compared to its average volume of 1,958,311. Relay Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $10.72. The company's fifty day moving average price is $3.23 and its 200 day moving average price is $4.50. The stock has a market cap of $452.62 million, a price-to-earnings ratio of -1.02 and a beta of 1.70.

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

Insider Buying and Selling at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 75,324 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $3.70, for a total transaction of $278,698.80. Following the completion of the transaction, the chief executive officer now directly owns 883,089 shares in the company, valued at $3,267,429.30. The trade was a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 36,036 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total transaction of $166,846.68. Following the completion of the sale, the chief financial officer now owns 263,190 shares in the company, valued at approximately $1,218,569.70. The trade was a 12.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 421,418 shares of company stock worth $1,775,793 over the last ninety days. Company insiders own 4.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in 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 on the stock in a research note on Thursday, February 27th. Stifel Nicolaus dropped their target price on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $19.80.

About Relay Therapeutics

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.