Man Group plc Takes $715,000 Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Man Group plc bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 173,605 shares of the company's stock, valued at approximately $715,000. Man Group plc owned 0.10% of Relay Therapeutics at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RLAY. Steward Partners Investment Advisory LLC increased its holdings 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 during the last quarter. Stifel Financial Corp acquired a new position in Relay Therapeutics in the fourth quarter worth approximately $42,000. Cibc World Markets Corp acquired a new position in Relay Therapeutics in the fourth quarter worth approximately $47,000. Summit Investment Advisors Inc. increased its holdings in Relay Therapeutics by 41.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock worth $52,000 after buying an additional 3,760 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in Relay Therapeutics by 26.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock worth $61,000 after buying an additional 3,092 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Trading Up 3.9%

RLAY stock traded up $0.12 during midday trading on Thursday, hitting $3.07. The stock had a trading volume of 429,032 shares, compared to its average volume of 2,070,023. The firm has a market capitalization of $525.48 million, a price-to-earnings ratio of -1.17 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. The stock has a 50-day simple moving average of $2.79 and a 200 day simple moving average of $3.79.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.46) earnings per share (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 prior year, the company earned ($0.62) earnings per share. The business's revenue was down 23.0% compared to the same quarter last year. On average, equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RLAY shares. Stifel Nicolaus decreased their target price 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. Guggenheim decreased their target price on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company started coverage on Relay Therapeutics in a research report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 target price for the company. The Goldman Sachs Group decreased their target price on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research 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 research report on Friday, March 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.67.

Insider Activity

In related news, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics 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 sale, the chief financial officer now directly owns 355,376 shares in the company, valued at $1,066,128. This trade 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 can be accessed 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 completion of the sale, the chief executive officer now owns 821,667 shares of the company's stock, valued at approximately $2,440,350.99. The trade was a 6.96% decrease in their ownership of the stock. 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. 4.87% of the stock is owned by corporate insiders.

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.