Renaissance Technologies LLC Acquires 878,095 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Renaissance Technologies LLC raised its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 130.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,549,190 shares of the company's stock after purchasing an additional 878,095 shares during the period. Renaissance Technologies LLC owned approximately 0.93% of Relay Therapeutics worth $6,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RLAY. Vanguard Group Inc. lifted its stake in shares of Relay Therapeutics by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company's stock valued at $61,924,000 after buying an additional 566,595 shares during the period. Norges Bank acquired a new stake in Relay Therapeutics during the fourth quarter worth $23,821,000. JPMorgan Chase & Co. increased its holdings in Relay Therapeutics by 39.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company's stock valued at $39,064,000 after buying an additional 1,554,115 shares during the period. State Street Corp raised its stake in shares of Relay Therapeutics by 1.2% in the 3rd quarter. State Street Corp now owns 4,300,216 shares of the company's stock valued at $30,446,000 after buying an additional 51,810 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Relay Therapeutics by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 3,030,157 shares of the company's stock worth $12,487,000 after acquiring an additional 297,887 shares during the period. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Stock Down 0.8 %

RLAY stock traded down $0.03 during trading on Thursday, hitting $3.09. The company had a trading volume of 346,529 shares, compared to its average volume of 1,972,697. The stock has a market cap of $522.98 million, a price-to-earnings ratio of -1.18 and a beta of 1.70. The firm has a 50-day moving average price of $3.05 and a 200-day moving average price of $4.35. Relay Therapeutics, Inc. has a 12 month low of $1.78 and a 12 month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.12. Equities analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Wall Street Analyst Weigh In

RLAY has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. The Goldman Sachs Group cut their target price on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus dropped their price objective on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company began coverage on shares of Relay Therapeutics in a research report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Relay Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $18.36.

Insider Activity at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 140,182 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $539,700.70. Following the transaction, the chief executive officer now owns 625,948 shares of the company's stock, valued at $2,409,899.80. This represents a 18.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total value of $166,846.68. Following the sale, the chief financial officer now directly owns 263,190 shares of the company's stock, valued at approximately $1,218,569.70. This trade represents a 12.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 296,418 shares of company stock worth $1,175,793 over the last ninety days. Company insiders own 4.32% of the company's stock.

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.