Franklin Resources Inc. Has $9.43 Million Stock Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Franklin Resources Inc. increased its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 3,883.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,396,842 shares of the company's stock after purchasing an additional 1,361,779 shares during the period. Franklin Resources Inc. owned approximately 0.83% of Relay Therapeutics worth $9,429,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bellevue Group AG raised its holdings in shares of Relay Therapeutics by 15.7% in the third quarter. Bellevue Group AG now owns 7,377,184 shares of the company's stock valued at $52,230,000 after purchasing an additional 1,000,069 shares during the last quarter. State Street Corp grew its position in Relay Therapeutics by 1.2% in the third quarter. State Street Corp now owns 4,300,216 shares of the company's stock valued at $30,446,000 after purchasing an additional 51,810 shares in the last quarter. Braidwell LP increased its stake in Relay Therapeutics by 16.4% in the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company's stock valued at $24,776,000 after buying an additional 492,628 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Relay Therapeutics by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company's stock valued at $19,348,000 after acquiring an additional 367,473 shares in the last quarter. Finally, Eventide Asset Management LLC acquired a new stake in shares of Relay Therapeutics in the third quarter valued at about $18,989,000. Institutional investors own 96.98% of the company's stock.

Analyst Ratings Changes

RLAY has been the subject of several recent research reports. Bank of America increased their price target on Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. JMP Securities restated a "market outperform" rating and set a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. Oppenheimer lowered shares of Relay Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Tuesday, September 10th. The Goldman Sachs Group started coverage on shares of Relay Therapeutics in a research report on Tuesday, September 10th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, Leerink Partners dropped their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, December 4th. One research 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.50.

Insider Buying and Selling

In other news, CEO Sanjiv Patel sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the sale, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. This trade represents a 14.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now directly owns 306,391 shares in the company, valued at $1,856,729.46. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,423 shares of company stock worth $551,043. Company insiders own 4.32% of the company's stock.

Relay Therapeutics Trading Down 2.3 %

NASDAQ RLAY traded down $0.10 during trading on Friday, reaching $4.16. The company's stock had a trading volume of 6,340,963 shares, compared to its average volume of 1,569,314. Relay Therapeutics, Inc. has a 12 month low of $4.11 and a 12 month high of $12.14. The firm has a 50 day moving average price of $5.38 and a 200 day moving average price of $6.62. The firm has a market capitalization of $696.31 million, a price-to-earnings ratio of -1.59 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, topping analysts' consensus estimates of ($0.77) by $0.14. The company's revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.54) EPS. On average, equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

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.