Trexquant Investment LP Increases Stock Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Trexquant Investment LP raised its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 137.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 978,137 shares of the company's stock after acquiring an additional 566,275 shares during the period. Trexquant Investment LP owned approximately 0.58% of Relay Therapeutics worth $4,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RLAY. Steward Partners Investment Advisory LLC grew its holdings in shares of Relay Therapeutics by 160.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock valued at $27,000 after purchasing an additional 4,000 shares during the period. Teacher Retirement System of Texas grew its position in Relay Therapeutics by 19.5% in the fourth quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company's stock worth $139,000 after acquiring an additional 5,492 shares during the period. E Fund Management Co. Ltd. increased its stake in Relay Therapeutics by 52.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company's stock worth $73,000 after acquiring an additional 6,104 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Relay Therapeutics by 3.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 166,668 shares of the company's stock valued at $687,000 after purchasing an additional 6,210 shares during the period. Finally, NEOS Investment Management LLC lifted its stake in shares of Relay Therapeutics by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 64,655 shares of the company's stock valued at $266,000 after purchasing an additional 6,365 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, insider Peter Rahmer sold 17,250 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total value of $76,245.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjiv Patel sold 125,000 shares of the company's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $4.80, for a total transaction of $600,000.00. Following the completion of the transaction, the chief executive officer now owns 324,548 shares of the company's stock, valued at $1,557,830.40. This represents a 27.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 421,418 shares of company stock worth $1,775,793 over the last 90 days. 4.32% of the stock is owned by insiders.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY traded down $0.20 during mid-day trading on Thursday, hitting $2.11. The company had a trading volume of 756,131 shares, compared to its average volume of 1,938,457. The company has a market capitalization of $356.84 million, a PE ratio of -0.81 and a beta of 1.70. The business's 50-day simple moving average is $3.36 and its 200 day simple moving average is $4.62. Relay Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.57) by $0.12. On average, analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RLAY shares. JMP Securities restated a "market outperform" rating and issued a $21.00 price objective on shares of Relay Therapeutics in a report on Thursday, December 12th. Stifel Nicolaus reduced their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, HC Wainwright reissued a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $19.80.

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.