Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 15.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,732,270 shares of the company's stock after purchasing an additional 367,473 shares during the quarter. Geode Capital Management LLC owned about 2.04% of Relay Therapeutics worth $19,348,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its position in shares of Relay Therapeutics by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company's stock valued at $292,000 after buying an additional 2,547 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Relay Therapeutics during the second quarter worth approximately $37,000. Rhumbline Advisers raised its position in Relay Therapeutics by 4.8% during the second quarter. Rhumbline Advisers now owns 163,895 shares of the company's stock valued at $1,069,000 after purchasing an additional 7,508 shares during the period. Victory Capital Management Inc. raised its position in 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 purchasing an additional 7,680 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Relay Therapeutics in the 3rd quarter valued at approximately $63,000. Institutional investors own 96.98% of the company's stock.

Insider Activity

In related news, 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 value of $41,220.12. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjiv Patel sold 100,000 shares of the business'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 completion of the sale, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. The trade was a 14.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,423 shares of company stock valued at $551,043 in the last quarter. Insiders own 4.32% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on RLAY. Barclays upped 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. Bank of America raised their price objective on Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. Leerink Partners dropped their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, December 4th. The Goldman Sachs Group started coverage on shares of Relay Therapeutics in a research note on Tuesday, September 10th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, HC Wainwright dropped their price objective on shares of Relay Therapeutics from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Relay Therapeutics has an average rating of "Moderate Buy" and an average target price of $20.50.

Relay Therapeutics Stock Down 2.0 %

NASDAQ:RLAY traded down $0.09 on Friday, hitting $4.36. The stock had a trading volume of 1,747,267 shares, compared to its average volume of 1,567,140. The company has a fifty day moving average price of $5.14 and a two-hundred day moving average price of $6.50. Relay Therapeutics, Inc. has a 1-year low of $4.11 and a 1-year high of $12.14. The stock has a market cap of $729.79 million, a price-to-earnings ratio of -1.67 and a beta of 1.59.

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