Dimensional Fund Advisors LP Boosts Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Dimensional Fund Advisors LP grew its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 69.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,964,997 shares of the company's stock after buying an additional 1,216,334 shares during the period. Dimensional Fund Advisors LP owned 1.77% of Relay Therapeutics worth $12,216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First Trust Advisors LP purchased a new stake in shares of Relay Therapeutics in the 4th quarter worth about $371,000. Jump Financial LLC boosted its position in Relay Therapeutics by 35.5% during the 4th quarter. Jump Financial LLC now owns 138,226 shares of the company's stock valued at $569,000 after acquiring an additional 36,251 shares in the last quarter. XTX Topco Ltd raised its position in shares of Relay Therapeutics by 26.4% in the 4th quarter. XTX Topco Ltd now owns 59,752 shares of the company's stock worth $246,000 after acquiring an additional 12,481 shares in the last quarter. Barclays PLC lifted its stake in shares of Relay Therapeutics by 24.4% in the 4th quarter. Barclays PLC now owns 313,202 shares of the company's stock valued at $1,290,000 after purchasing an additional 61,383 shares during the period. Finally, Summit Investment Advisors Inc. boosted its position in shares of 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 purchasing an additional 3,760 shares in the last quarter. Institutional investors own 96.98% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Relay Therapeutics in a research note on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. Guggenheim lowered their price objective on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus lowered their price target on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their price target on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.67.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 12,943 shares of the 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 of the company's stock, valued at approximately $1,066,128. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 61,422 shares of Relay Therapeutics stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $2.97, for a total value of $182,423.34. Following the sale, the chief executive officer now directly owns 821,667 shares of the company's stock, valued at $2,440,350.99. This trade represents a 6.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,320 shares of company stock worth $280,981. 4.32% of the stock is owned by corporate insiders.

Relay Therapeutics Trading Down 3.1%

Shares of NASDAQ RLAY traded down $0.09 during trading hours on Thursday, reaching $2.69. The stock had a trading volume of 194,643 shares, compared to its average volume of 2,072,061. The business's fifty day moving average price is $2.89 and its two-hundred day moving average price is $4.00. The firm has a market cap of $460.33 million, a price-to-earnings ratio of -1.03 and a beta of 1.65. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.46) EPS for the quarter, topping analysts' consensus estimates of ($0.50) by $0.04. The business had revenue of $7.68 million during the quarter, compared to the consensus estimate of $0.01 million. During the same period last year, the firm earned ($0.62) EPS. The business's quarterly revenue was down 23.0% on a year-over-year basis. Equities 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.