Walleye Capital LLC Acquires 1,793,057 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Walleye Capital LLC increased its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 6,659.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,819,983 shares of the company's stock after buying an additional 1,793,057 shares during the quarter. Walleye Capital LLC owned 1.36% of Relay Therapeutics worth $12,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Logos Global Management LP bought a new position in shares of Relay Therapeutics during the 2nd quarter valued at about $8,476,000. First Turn Management LLC acquired a new stake in Relay Therapeutics during the 3rd quarter worth approximately $8,683,000. Vanguard Group Inc. lifted its stake in Relay Therapeutics by 10.9% in the first quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company's stock valued at $98,070,000 after buying an additional 1,165,282 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Relay Therapeutics by 404.2% in the second quarter. Millennium Management LLC now owns 1,149,177 shares of the company's stock valued at $7,493,000 after buying an additional 921,271 shares during the period. Finally, Ally Bridge Group NY LLC bought a new stake in shares of Relay Therapeutics during the third quarter worth $4,432,000. 96.98% of the stock is currently owned by institutional investors.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics 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 $1,856,729.46. This trade represents a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.32% of the company's stock.

Relay Therapeutics Stock Down 2.1 %

Shares of RLAY traded down $0.10 during trading hours on Friday, hitting $4.70. The company had a trading volume of 2,250,910 shares, compared to its average volume of 1,466,012. The firm has a market cap of $786.69 million, a price-to-earnings ratio of -1.80 and a beta of 1.67. The business has a fifty day moving average of $6.06 and a 200-day moving average of $6.86. Relay Therapeutics, Inc. has a 12 month low of $4.48 and a 12 month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued 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. The firm's revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.54) EPS. On average, equities analysts expect that Relay Therapeutics, Inc. will post -2.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on RLAY. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, September 17th. Bank of America lifted their target price on Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Stifel Nicolaus reaffirmed a "buy" rating and set a $28.00 price target on shares of Relay Therapeutics in a research report on Monday, September 16th. Barclays boosted their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an "overweight" 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 equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Relay Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $21.22.

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.