Vanguard Group Inc. Boosts Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Vanguard Group Inc. increased its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,030,209 shares of the company's stock after buying an additional 566,595 shares during the quarter. Vanguard Group Inc. owned about 8.98% of Relay Therapeutics worth $61,924,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its stake 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 worth $27,000 after acquiring an additional 4,000 shares during the period. Cibc World Markets Corp acquired a new stake in Relay Therapeutics during the 4th quarter worth about $47,000. E Fund Management Co. Ltd. raised its stake in shares of Relay Therapeutics by 52.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company's stock valued at $73,000 after buying an additional 6,104 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Relay Therapeutics during the 4th quarter valued at about $102,000. Finally, Savant Capital LLC acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at about $120,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Performance

Shares of RLAY traded up $0.19 during trading hours on Tuesday, hitting $2.76. 3,238,582 shares of the stock were exchanged, compared to its average volume of 1,965,735. The stock's 50-day moving average price is $3.23 and its two-hundred day moving average price is $4.50. Relay Therapeutics, Inc. has a 12-month low of $1.78 and a 12-month high of $10.72. The company has a market cap of $467.88 million, a price-to-earnings ratio of -1.06 and a beta of 1.70.

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

Insider Activity at Relay Therapeutics

In other news, 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 completion of the sale, the insider now directly owns 402,431 shares in the company, valued at $1,778,745.02. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjiv Patel sold 125,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $4.80, for a total value of $600,000.00. Following the completion of the sale, the chief executive officer now directly owns 324,548 shares of the company's stock, valued at approximately $1,557,830.40. This represents a 27.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 421,418 shares of company stock valued at $1,775,793. Corporate insiders own 4.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RLAY shares. The Goldman Sachs Group cut their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Relay Therapeutics in a report on Friday, March 7th. Finally, Stifel Nicolaus lowered their target price 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Relay Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $19.80.

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.