1,349,400 Shares in Relay Therapeutics, Inc. (NASDAQ:RLAY) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,349,400 shares of the company's stock, valued at approximately $9,554,000. Point72 Asset Management L.P. owned 1.01% of Relay Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of RLAY. Allspring Global Investments Holdings LLC boosted its stake in shares of Relay Therapeutics by 6.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company's stock worth $292,000 after acquiring an additional 2,547 shares during the period. EverSource Wealth Advisors LLC bought a new position in Relay Therapeutics in the 2nd quarter worth approximately $37,000. Rhumbline Advisers grew its holdings in Relay Therapeutics by 4.8% during the 2nd quarter. Rhumbline Advisers now owns 163,895 shares of the company's stock valued at $1,069,000 after buying an additional 7,508 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Relay Therapeutics by 11.2% during the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company's stock valued at $499,000 after buying an additional 7,680 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Relay Therapeutics in the third quarter worth $63,000. Hedge funds and other institutional investors own 96.98% of the company's stock.

Relay Therapeutics Trading Up 7.7 %

Shares of RLAY stock traded up $0.33 on Friday, reaching $4.61. 2,820,827 shares of the company's stock were exchanged, compared to its average volume of 1,767,768. The company's fifty day simple moving average is $5.78 and its 200 day simple moving average is $6.77. Relay Therapeutics, Inc. has a 52 week low of $4.25 and a 52 week high of $12.14. The stock has a market capitalization of $771.62 million, a PE ratio of -1.77 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.77) by $0.14. The firm's revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.54) EPS. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 target price on shares of Relay Therapeutics in a research note on Tuesday, September 17th. Barclays boosted their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. Jefferies Financial Group upgraded 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 report on Tuesday, September 10th. Oppenheimer cut Relay Therapeutics from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Relay Therapeutics from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 6,802 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the transaction, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. This trade represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.32% of the company's stock.

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.