Boxer Capital Management LLC Invests $2.21 Million in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Boxer Capital Management LLC acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 536,132 shares of the company's stock, valued at approximately $2,209,000. Boxer Capital Management LLC owned about 0.32% of Relay Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Martingale Asset Management L P raised its holdings in shares of Relay Therapeutics by 3.5% in the fourth quarter. Martingale Asset Management L P now owns 80,371 shares of the company's stock valued at $331,000 after acquiring an additional 2,700 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings 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 in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Relay Therapeutics by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company's stock valued at $902,000 after purchasing an additional 3,325 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in Relay Therapeutics by 41.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock valued at $52,000 after buying an additional 3,760 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in 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 buying an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on RLAY shares. Wells Fargo & Company began coverage on Relay Therapeutics in a research report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 price target for the company. The Goldman Sachs Group cut 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. HC Wainwright restated a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. Finally, Stifel Nicolaus lowered their price objective 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. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.36.

Insider Activity at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 140,182 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $539,700.70. Following the sale, the chief executive officer now directly owns 625,948 shares of the company's stock, valued at approximately $2,409,899.80. This represents a 18.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas Catinazzo sold 12,943 shares of the company's 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 completion of the transaction, the chief financial officer now directly owns 355,376 shares of the company's stock, valued at $1,066,128. The trade was a 3.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 309,826 shares of company stock worth $1,099,380. 4.32% of the stock is owned by corporate insiders.

Relay Therapeutics Trading Down 1.2 %

NASDAQ RLAY traded down $0.04 on Friday, hitting $3.25. 2,466,796 shares of the company's stock traded hands, compared to its average volume of 2,010,860. The firm's 50-day moving average price is $2.95 and its two-hundred day moving average price is $4.15. The firm has a market capitalization of $554.09 million, a PE ratio of -1.25 and a beta of 1.65. 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 announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.12. On average, research analysts anticipate 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.