Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Sold by Jane Street Group LLC

Jane Street Group LLC reduced its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 59.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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.

Several other large investors also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its stake in shares of Relay Therapeutics by 160.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock valued at $27,000 after purchasing an additional 4,000 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at $42,000. Cibc World Markets Corp acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at $47,000. Summit Investment Advisors Inc. lifted its stake in shares of Relay Therapeutics by 41.9% in the 4th 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 during the last quarter. Finally, Virtus ETF Advisers LLC lifted its stake 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 last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Relay Therapeutics

In other news, insider Peter Rahmer sold 10,739 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 $32,217.00. Following the transaction, the insider now owns 390,081 shares in the company, valued at approximately $1,170,243. This represents a 2.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 12,943 shares of the stock in a transaction dated Wednesday, April 30th. The shares were 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 owns 355,376 shares in the company, valued at approximately $1,066,128. The trade was a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,320 shares of company stock valued at $280,981 in the last quarter. Corporate insiders own 4.87% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Relay Therapeutics in a research note on Thursday, April 17th. They set an "equal weight" rating and a $4.00 target price on the stock. The Goldman Sachs Group decreased their target price on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. Stifel Nicolaus decreased their target price on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Guggenheim decreased their target price 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. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.67.

Relay Therapeutics Stock Performance

RLAY stock traded up $0.12 during mid-day trading on Friday, reaching $3.36. The company had a trading volume of 1,765,054 shares, compared to its average volume of 2,077,422. The company has a market capitalization of $576.06 million, a price-to-earnings ratio of -1.29 and a beta of 1.59. The firm has a fifty day simple moving average of $2.84 and a 200 day simple moving average of $3.68. Relay Therapeutics, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.04. The company had revenue of $7.68 million during the quarter, compared to analyst estimates of $0.01 million. Relay Therapeutics's revenue for the quarter was down 23.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.62) EPS. As a group, analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current 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.