JPMorgan Chase & Co. Grows Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

JPMorgan Chase & Co. boosted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 39.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,517,516 shares of the company's stock after acquiring an additional 1,554,115 shares during the quarter. JPMorgan Chase & Co. owned 3.30% of Relay Therapeutics worth $39,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Relay Therapeutics by 26.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company's stock valued at $7,333,000 after purchasing an additional 214,398 shares in the last quarter. Maven Securities LTD acquired a new stake in Relay Therapeutics in the third quarter valued at approximately $2,389,000. Geode Capital Management LLC boosted its position in 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 buying an additional 367,473 shares in the last quarter. Franklin Resources Inc. grew its stake 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 buying an additional 1,361,779 shares during the last quarter. Finally, First Turn Management LLC acquired a new position in shares of Relay Therapeutics during the third quarter worth $8,683,000. 96.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RLAY. Stifel Nicolaus reissued a "buy" rating and set a $28.00 price objective on shares of Relay Therapeutics in a report on Monday, September 16th. Oppenheimer downgraded Relay Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 10th. JMP Securities reissued a "market outperform" rating and set a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. 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. Finally, The Goldman Sachs Group assumed coverage on shares of Relay Therapeutics in a research note on Tuesday, September 10th. They issued a "buy" rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.50.

Relay Therapeutics Stock Up 3.4 %

RLAY stock traded up $0.15 during trading on Monday, reaching $4.57. The stock had a trading volume of 1,952,400 shares, compared to its average volume of 1,491,300. Relay Therapeutics, Inc. has a one year low of $4.01 and a one year high of $12.14. The company's 50 day moving average is $4.93 and its two-hundred day moving average is $6.39. The company has a market capitalization of $764.94 million, a price-to-earnings ratio of -1.75 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, topping analysts' consensus estimates of ($0.77) by $0.14. During the same period in the prior year, the business earned ($0.54) EPS. Relay Therapeutics's revenue for the quarter was down 100.0% on a year-over-year basis. As a group, research analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 6,802 shares of the 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 completion of the transaction, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. This represents a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjiv Patel sold 100,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the completion of the sale, the chief executive officer now owns 574,548 shares in the company, valued at $2,872,740. This represents a 14.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,587 shares of company stock worth $573,856. 4.32% of the stock is owned by company insiders.

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.