Maven Securities LTD Takes $2.39 Million Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Maven Securities LTD bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 337,426 shares of the company's stock, valued at approximately $2,389,000. Maven Securities LTD owned 0.25% of Relay Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RLAY. Bellevue Group AG raised its holdings in shares of Relay Therapeutics by 15.7% during the third quarter. Bellevue Group AG now owns 7,377,184 shares of the company's stock valued at $52,230,000 after purchasing an additional 1,000,069 shares during the period. Braidwell LP raised its holdings in shares of Relay Therapeutics by 16.4% in the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company's stock worth $24,776,000 after acquiring an additional 492,628 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in shares of Relay Therapeutics in the 3rd quarter worth about $18,989,000. Walleye Capital LLC raised its holdings in shares of Relay Therapeutics by 6,659.2% in the 3rd quarter. Walleye Capital LLC now owns 1,819,983 shares of the company's stock worth $12,885,000 after acquiring an additional 1,793,057 shares during the last quarter. Finally, Finepoint Capital LP raised its holdings in shares of Relay Therapeutics by 1.3% in the 3rd quarter. Finepoint Capital LP now owns 1,626,146 shares of the company's stock worth $11,513,000 after acquiring an additional 20,800 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Insider Transactions at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the transaction, the chief financial officer now owns 306,391 shares in the company, valued at $1,856,729.46. This trade represents a 2.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Relay Therapeutics from a "hold" rating to a "buy" rating and upped their target price for the stock from $10.60 to $16.00 in a report on Tuesday, September 10th. Oppenheimer lowered shares of Relay Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 10th. Barclays increased their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. Bank of America increased their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Finally, HC Wainwright decreased their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.78.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY remained flat at $4.39 during mid-day trading on Wednesday. 3,015,511 shares of the stock were exchanged, compared to its average volume of 1,482,663. Relay Therapeutics, Inc. has a 52 week low of $4.36 and a 52 week high of $12.14. The stock has a market cap of $734.80 million, a PE ratio of -1.68 and a beta of 1.59. The stock has a 50 day moving average of $5.95 and a 200 day moving average of $6.83.

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, topping analysts' consensus estimates of ($0.77) by $0.14. During the same quarter in the prior year, the company earned ($0.54) EPS. The company's revenue was down 100.0% on a year-over-year basis. Equities analysts anticipate that Relay Therapeutics, Inc. will post -2.61 EPS for the current year.

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.