BNP Paribas Financial Markets Acquires Shares of 239,668 Relay Therapeutics, Inc. (NASDAQ:RLAY)

BNP Paribas Financial Markets bought a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 239,668 shares of the company's stock, valued at approximately $987,000. BNP Paribas Financial Markets owned 0.14% of Relay Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Martingale Asset Management L P increased its position in shares of Relay Therapeutics by 3.5% during the fourth 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 period. Virtus ETF Advisers LLC increased its position in shares of Relay Therapeutics by 26.2% during the fourth quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock worth $61,000 after acquiring an additional 3,092 shares during the period. The Manufacturers Life Insurance Company increased its position 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 worth $902,000 after acquiring an additional 3,325 shares during the period. Summit Investment Advisors Inc. increased 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 worth $52,000 after acquiring an additional 3,760 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock worth $27,000 after acquiring an additional 4,000 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RLAY. Guggenheim cut their price objective 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. Stifel Nicolaus cut their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group cut their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company started coverage on shares of Relay Therapeutics in a report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a report 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.67.

Insider Activity at Relay Therapeutics

In related news, insider Peter Rahmer sold 10,739 shares of the business'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 $32,217.00. Following the completion of the transaction, the insider now directly owns 390,081 shares in the company, valued at $1,170,243. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Catinazzo sold 12,943 shares of the business'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 transaction, the chief financial officer now 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. Insiders sold 94,320 shares of company stock worth $280,981 over the last three months. Company insiders own 4.87% of the company's stock.

Relay Therapeutics Trading Up 2.1%

Shares of NASDAQ:RLAY traded up $0.06 on Friday, hitting $2.91. 939,082 shares of the company were exchanged, compared to its average volume of 2,078,045. Relay Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $10.72. The stock's 50 day moving average price is $2.81 and its 200 day moving average price is $3.84. The firm has a market capitalization of $498.90 million, a P/E ratio of -1.11 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.46) 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 analyst estimates of $0.01 million. During the same quarter in the previous year, the firm posted ($0.62) earnings per share. The company's quarterly revenue was down 23.0% on a year-over-year basis. On average, equities analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

About Relay Therapeutics

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.