Algert Global LLC Has $4.10 Million Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Algert Global LLC increased its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 93.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 994,923 shares of the company's stock after buying an additional 481,646 shares during the quarter. Algert Global LLC owned about 0.59% of Relay Therapeutics worth $4,099,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Martingale Asset Management L P grew its holdings in shares of Relay Therapeutics by 3.5% in the 4th quarter. Martingale Asset Management L P now owns 80,371 shares of the company's stock worth $331,000 after acquiring an additional 2,700 shares during the last quarter. Virtus ETF Advisers LLC boosted its position in shares of Relay Therapeutics by 26.2% in the 4th quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock valued at $61,000 after purchasing an additional 3,092 shares during the period. The Manufacturers Life Insurance Company increased its stake in Relay Therapeutics by 1.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company's stock worth $902,000 after purchasing an additional 3,325 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Relay Therapeutics by 41.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock worth $52,000 after buying an additional 3,760 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock valued at $27,000 after buying an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RLAY. 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. The Goldman Sachs Group lowered their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Guggenheim reduced their target price on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus decreased their target price on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company started coverage on Relay Therapeutics in a report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 price target on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.67.

Relay Therapeutics Price Performance

NASDAQ:RLAY traded up $0.06 during trading hours on Monday, reaching $3.06. The company's stock had a trading volume of 309,099 shares, compared to its average volume of 2,539,178. The company has a market cap of $523.76 million, a price-to-earnings ratio of -1.17 and a beta of 1.65. Relay Therapeutics, Inc. has a one year low of $1.77 and a one year high of $10.72. The business's 50-day moving average is $2.92 and its 200-day moving average is $4.03.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.04. The company had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. The business's revenue was down 23.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.62) EPS. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $38,829.00. Following the transaction, the chief financial officer now directly owns 355,376 shares in the company, valued at approximately $1,066,128. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 140,182 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $539,700.70. Following the sale, the chief executive officer now owns 625,948 shares of the company's stock, valued at approximately $2,409,899.80. The trade was a 18.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 309,826 shares of company stock worth $1,099,380 over the last 90 days. Insiders own 4.87% of the company's stock.

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.