Renaissance Technologies LLC Acquires 145,837 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Renaissance Technologies LLC raised its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 19.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 909,037 shares of the company's stock after purchasing an additional 145,837 shares during the quarter. Renaissance Technologies LLC owned 0.68% of Relay Therapeutics worth $5,927,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RLAY. Norges Bank bought a new position in Relay Therapeutics in the fourth quarter worth approximately $33,789,000. BVF Inc. IL raised its stake in Relay Therapeutics by 67.8% in the 4th quarter. BVF Inc. IL now owns 3,970,045 shares of the company's stock worth $43,710,000 after acquiring an additional 1,604,240 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Relay Therapeutics by 10.9% during the first quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company's stock worth $98,070,000 after purchasing an additional 1,165,282 shares during the period. Bellevue Group AG boosted its holdings in Relay Therapeutics by 21.5% in the fourth quarter. Bellevue Group AG now owns 5,936,082 shares of the company's stock valued at $65,356,000 after purchasing an additional 1,051,082 shares during the last quarter. Finally, Finepoint Capital LP grew its stake in shares of Relay Therapeutics by 51.3% during the 4th quarter. Finepoint Capital LP now owns 1,317,870 shares of the company's stock worth $14,510,000 after purchasing an additional 447,000 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the transaction, the chief executive officer now directly owns 766,130 shares in the company, valued at approximately $6,948,799.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Peter Rahmer sold 13,708 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $8.19, for a total transaction of $112,268.52. Following the completion of the sale, the insider now owns 391,929 shares in the company, valued at approximately $3,209,898.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the sale, the chief executive officer now directly owns 766,130 shares in the company, valued at $6,948,799.10. The disclosure for this sale can be found here. Insiders have sold a total of 74,717 shares of company stock valued at $652,955 over the last quarter. Corporate insiders own 4.32% of the company's stock.

Relay Therapeutics Stock Up 4.8 %

RLAY opened at $7.40 on Friday. The firm's 50 day moving average is $7.47 and its 200-day moving average is $7.25. The firm has a market capitalization of $990.79 million, a P/E ratio of -2.80 and a beta of 1.64. Relay Therapeutics, Inc. has a 52-week low of $5.70 and a 52-week high of $12.14.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, topping analysts' consensus estimates of ($0.73) by $0.04. During the same quarter last year, the company posted ($0.81) earnings per share. Equities analysts expect that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RLAY has been the topic of a number of research reports. Jefferies Financial Group raised shares of Relay Therapeutics from a "hold" rating to a "buy" rating and raised their price target for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. JPMorgan Chase & Co. cut their price objective on Relay Therapeutics from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Tuesday, September 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, September 17th. Bank of America raised their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Finally, Oppenheimer downgraded shares of Relay Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $21.11.

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.