89,949 Shares in Relay Therapeutics, Inc. (NASDAQ:RLAY) Purchased by First Trust Advisors LP

First Trust Advisors LP acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 89,949 shares of the company's stock, valued at approximately $371,000. First Trust Advisors LP owned about 0.05% of Relay Therapeutics at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RLAY. Barclays PLC grew its position in shares of Relay Therapeutics by 118.4% during the 3rd quarter. Barclays PLC now owns 251,819 shares of the company's stock worth $1,783,000 after buying an additional 136,541 shares during the period. Franklin Resources Inc. grew its holdings 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 valued at $9,429,000 after purchasing an additional 1,361,779 shares during the period. SG Americas Securities LLC increased its stake in Relay Therapeutics by 40.8% in the fourth quarter. SG Americas Securities LLC now owns 77,557 shares of the company's stock valued at $320,000 after purchasing an additional 22,473 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Relay Therapeutics by 37.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company's stock worth $146,000 after purchasing an additional 9,740 shares during the period. Finally, Savant Capital LLC bought a new position in shares of Relay Therapeutics during the fourth quarter worth $120,000. Institutional investors and hedge funds own 96.98% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on RLAY. Wells Fargo & Company began coverage on shares of Relay Therapeutics in a research report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 price objective for the company. Stifel Nicolaus dropped their price target on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective 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. Guggenheim dropped their target price on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.67.

Relay Therapeutics Trading Down 3.1%

Shares of NASDAQ RLAY traded down $0.09 during midday trading on Thursday, reaching $2.69. The company's stock had a trading volume of 194,643 shares, compared to its average volume of 2,072,061. The stock has a 50 day simple moving average of $2.89 and a 200-day simple moving average of $4.00. The stock has a market capitalization of $460.33 million, a price-to-earnings ratio of -1.03 and a beta of 1.65. Relay Therapeutics, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.04. The business had revenue of $7.68 million during the quarter, compared to analyst estimates of $0.01 million. During the same quarter in the previous year, the firm posted ($0.62) earnings per share. The firm's quarterly revenue was down 23.0% on a year-over-year basis. As a group, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Insider Activity at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 61,422 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $2.97, for a total value of $182,423.34. Following the completion of the sale, the chief executive officer now owns 821,667 shares of the company's stock, valued at approximately $2,440,350.99. This represents a 6.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 12,943 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $38,829.00. Following the completion of the transaction, the chief financial officer now directly owns 355,376 shares of the company's stock, valued at $1,066,128. This represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,320 shares of company stock valued at $280,981. 4.32% of the stock is owned by insiders.

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.