Raymond James Financial Inc. Takes $779,000 Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Raymond James Financial Inc. purchased a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 189,046 shares of the company's stock, valued at approximately $779,000. Raymond James Financial Inc. owned about 0.11% of Relay Therapeutics at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RLAY. JPMorgan Chase & Co. increased its stake in shares of Relay Therapeutics by 39.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company's stock valued at $39,064,000 after acquiring an additional 1,554,115 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Relay Therapeutics by 3,883.8% during the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company's stock worth $9,429,000 after acquiring an additional 1,361,779 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Relay Therapeutics during the 3rd quarter worth about $9,554,000. Exome Asset Management LLC bought a new position in shares of Relay Therapeutics during the third quarter worth about $2,936,000. Finally, Geode Capital Management LLC raised its holdings in shares of Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company's stock valued at $19,348,000 after purchasing an additional 367,473 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Stock Performance

Shares of RLAY stock traded down $0.08 on Thursday, hitting $2.22. The company's stock had a trading volume of 2,163,390 shares, compared to its average volume of 1,947,692. Relay Therapeutics, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $10.72. The stock's 50 day moving average is $3.31 and its 200-day moving average is $4.59. The company has a market capitalization of $376.34 million, a PE ratio of -0.85 and a beta of 1.70.

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

Insiders Place Their Bets

In related news, insider Peter Rahmer sold 17,250 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $76,245.00. Following the sale, the insider now directly owns 402,431 shares of the company's stock, valued at $1,778,745.02. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjiv Patel sold 75,324 shares of the stock in a transaction dated 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 of the company's stock, valued at $3,267,429.30. This trade represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 421,418 shares of company stock worth $1,775,793 over the last ninety days. Corporate insiders own 4.32% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. The Goldman Sachs Group cut their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus reduced their price target on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, HC Wainwright restated a "buy" rating and issued a $16.00 price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.80.

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.