Walleye Capital LLC Sells 892,846 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Walleye Capital LLC lessened its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 927,137 shares of the company's stock after selling 892,846 shares during the quarter. Walleye Capital LLC owned approximately 0.55% of Relay Therapeutics worth $3,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in RLAY. Geode Capital Management LLC boosted its holdings in Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company's stock valued at $19,348,000 after acquiring an additional 367,473 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Relay Therapeutics by 39.2% in the third 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. Franklin Resources Inc. grew its stake in Relay Therapeutics by 3,883.8% during the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company's stock worth $9,429,000 after buying an additional 1,361,779 shares during the period. Barclays PLC lifted its holdings in shares of Relay Therapeutics by 118.4% during the 3rd quarter. Barclays PLC now owns 251,819 shares of the company's stock valued at $1,783,000 after acquiring an additional 136,541 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Relay Therapeutics in the fourth quarter valued at about $779,000. Hedge funds and other institutional investors own 96.98% of the company's stock.

Insider Transactions at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 125,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was 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 owns 324,548 shares in the company, valued at $1,557,830.40. This represents a 27.81 % 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, CFO Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total value of $166,846.68. Following the transaction, the chief financial officer now directly owns 263,190 shares in the company, valued at approximately $1,218,569.70. This trade represents a 12.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 421,418 shares of company stock valued at $1,775,793 over the last three months. Company insiders own 4.32% of the company's stock.

Analyst Ratings Changes

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

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY traded up $0.04 on Tuesday, hitting $2.79. The company's stock had a trading volume of 208,589 shares, compared to its average volume of 1,961,269. Relay Therapeutics, Inc. has a 12 month low of $1.78 and a 12 month high of $10.72. The stock's 50-day moving average is $3.09 and its two-hundred day moving average is $4.37. The company has a market capitalization of $473.64 million, a price-to-earnings ratio of -1.07 and a beta of 1.70.

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