Relay Therapeutics, Inc. (NASDAQ:RLAY) Stake Reduced by Jane Street Group LLC

Jane Street Group LLC lowered its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 59.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,510 shares of the company's stock after selling 109,819 shares during the quarter. Jane Street Group LLC's holdings in Relay Therapeutics were worth $311,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RLAY. SG Americas Securities LLC grew its holdings in Relay Therapeutics by 40.8% during the 4th quarter. SG Americas Securities LLC now owns 77,557 shares of the company's stock worth $320,000 after acquiring an additional 22,473 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake 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 in the last quarter. Savant Capital LLC bought a new stake in Relay Therapeutics in the fourth quarter valued at about $120,000. Rhumbline Advisers raised its stake in Relay Therapeutics by 8.6% during the fourth quarter. Rhumbline Advisers now owns 171,444 shares of the company's stock valued at $706,000 after buying an additional 13,532 shares in the last quarter. Finally, Congress Asset Management Co. lifted its holdings in Relay Therapeutics by 7.6% during the 4th quarter. Congress Asset Management Co. now owns 157,485 shares of the company's stock worth $649,000 after buying an additional 11,061 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Insider Buying and Selling

In related news, CFO Thomas Catinazzo sold 12,943 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total transaction of $38,829.00. Following the sale, the chief financial officer now owns 355,376 shares of the company's stock, valued at $1,066,128. The trade was 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 available at the SEC website. Also, CEO Sanjiv Patel sold 61,422 shares of the company's 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 $2,440,350.99. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,320 shares of company stock valued at $280,981 over the last 90 days. 4.87% of the stock is currently owned by company insiders.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY traded up $0.05 during midday trading on Thursday, hitting $3.28. 643,969 shares of the company's stock were exchanged, compared to its average volume of 2,364,847. Relay Therapeutics, Inc. has a twelve month low of $1.77 and a twelve month high of $10.72. The firm has a market cap of $561.48 million, a P/E ratio of -1.25 and a beta of 1.59. The stock's 50 day moving average price is $2.81 and its 200-day moving average price is $3.70.

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

Wall Street Analysts Forecast Growth

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

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.