Geode Capital Management LLC Buys 297,887 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Geode Capital Management LLC boosted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,030,157 shares of the company's stock after purchasing an additional 297,887 shares during the period. Geode Capital Management LLC owned approximately 1.81% of Relay Therapeutics worth $12,487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its holdings in shares of Relay Therapeutics by 160.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock worth $27,000 after acquiring an additional 4,000 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at $47,000. E Fund Management Co. Ltd. increased its stake in Relay Therapeutics by 52.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company's stock worth $73,000 after purchasing an additional 6,104 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Relay Therapeutics during the 4th quarter worth about $102,000. Finally, Savant Capital LLC acquired a new position in shares of Relay Therapeutics in the fourth quarter worth about $120,000. 96.98% of the stock is owned by institutional investors.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock traded down $0.03 during trading on Friday, hitting $3.17. 1,061,353 shares of the stock traded hands, compared to its average volume of 1,976,146. The company has a fifty day moving average price of $3.04 and a two-hundred day moving average price of $4.33. Relay Therapeutics, Inc. has a twelve month low of $1.78 and a twelve month high of $10.72. The stock has a market cap of $536.54 million, a P/E ratio of -1.21 and a beta of 1.70.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted 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, equities research analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. HC Wainwright restated a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. Wells Fargo & Company assumed coverage on Relay Therapeutics in a report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 target price for the company. Stifel Nicolaus lowered their price target on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their price objective on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.36.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 61,422 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $2.97, for a total value of $182,423.34. Following the completion of the sale, the chief executive officer now directly owns 821,667 shares in the company, valued at approximately $2,440,350.99. The trade was a 6.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Rahmer sold 17,250 shares of the company's stock in a transaction that occurred on 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. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 357,840 shares of company stock worth $1,358,217. Corporate insiders own 4.32% of the company's stock.

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.