Sio Capital Management LLC Buys New Shares in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Sio Capital Management LLC acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 945,839 shares of the company's stock, valued at approximately $6,697,000. Relay Therapeutics makes up approximately 2.7% of Sio Capital Management LLC's portfolio, making the stock its 13th biggest position. Sio Capital Management LLC owned 0.71% of Relay Therapeutics at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First Turn Management LLC acquired a new stake in Relay Therapeutics during the 3rd quarter valued at $8,683,000. Logos Global Management LP purchased a new stake in shares of Relay Therapeutics during the second quarter worth about $8,476,000. Los Angeles Capital Management LLC lifted its stake in shares of Relay Therapeutics by 661.7% in the second quarter. Los Angeles Capital Management LLC now owns 106,169 shares of the company's stock worth $692,000 after acquiring an additional 92,230 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Relay Therapeutics by 19.1% in the second quarter. Renaissance Technologies LLC now owns 909,037 shares of the company's stock valued at $5,927,000 after purchasing an additional 145,837 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its stake in Relay Therapeutics by 54.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 616,220 shares of the company's stock valued at $4,018,000 after purchasing an additional 218,302 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on RLAY. The Goldman Sachs Group initiated coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They set a "buy" rating and a $20.00 target price for the company. HC Wainwright boosted their target price on shares of Relay Therapeutics from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Barclays increased their price target 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. Oppenheimer cut Relay Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Tuesday, September 10th. Finally, Bank of America boosted their price objective on Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $21.22.

Insider Buying and Selling

In other news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics 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 transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.32% of the stock is owned by corporate insiders.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY traded down $0.10 on Friday, hitting $4.70. The company's stock had a trading volume of 2,250,909 shares, compared to its average volume of 1,466,012. The company has a market capitalization of $786.69 million, a price-to-earnings ratio of -1.84 and a beta of 1.67. Relay Therapeutics, Inc. has a 12 month low of $4.48 and a 12 month high of $12.14. The stock's 50-day moving average is $6.12 and its two-hundred day moving average is $6.87.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. The business's revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.54) EPS. Equities analysts expect that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current fiscal year.

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.