OMERS ADMINISTRATION Corp Makes New Investment in Relay Therapeutics, Inc. $RLAY

Key Points

• OMERS Administration Corp has acquired 85,200 shares of **Relay Therapeutics, Inc. (NASDAQ: RLAY)**, valued at approximately **$223,000**, during the first quarter.
• Relay Therapeutics' recent earnings report showed a **loss of $0.41 per share**, which was better than the expected loss of **$0.49 per share**, with revenue of **$0.70 million** exceeding estimates.
• Insider trading reveals CEO Sanjiv Patel sold **61,379 shares** at an average price of **$3.57**, indicating a **7.42% decrease** in his ownership stake.

OMERS ADMINISTRATION Corp bought a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 85,200 shares of the company's stock, valued at approximately $223,000.

Several other large investors have also bought and sold shares of the company. Ieq Capital LLC purchased a new position in Relay Therapeutics in the first quarter worth about $148,000. CW Advisors LLC purchased a new position in Relay Therapeutics in the first quarter worth about $487,000. EntryPoint Capital LLC raised its holdings in Relay Therapeutics by 220.2% in the first quarter. EntryPoint Capital LLC now owns 71,486 shares of the company's stock worth $187,000 after buying an additional 49,161 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Relay Therapeutics by 4.2% in the first quarter. Hsbc Holdings PLC now owns 116,408 shares of the company's stock worth $300,000 after buying an additional 4,639 shares during the last quarter. Finally, Cresset Asset Management LLC purchased a new position in Relay Therapeutics in the first quarter worth about $77,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RLAY. Guggenheim began coverage on shares of Relay Therapeutics in a research note on Thursday, September 4th. They issued a "buy" rating and a $15.00 price target for the company. Raymond James Financial reduced their price target on shares of Relay Therapeutics from $29.00 to $19.00 and set a "strong-buy" rating for the company in a research note on Friday, August 8th. Finally, HC Wainwright reduced their price target on shares of Relay Therapeutics from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of "Buy" and an average target price of $16.50.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 61,379 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $3.57, for a total value of $219,123.03. Following the completion of the transaction, the chief executive officer directly owned 765,288 shares in the company, valued at $2,732,078.16. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas Catinazzo sold 18,380 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total transaction of $67,638.40. Following the completion of the transaction, the chief financial officer owned 335,295 shares of the company's stock, valued at approximately $1,233,885.60. The trade was a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,226 shares of company stock valued at $542,926 in the last three months. Corporate insiders own 4.87% of the company's stock.

Relay Therapeutics Trading Down 0.2%

NASDAQ RLAY traded down $0.01 during trading hours on Wednesday, hitting $4.06. 1,349,456 shares of the company's stock traded hands, compared to its average volume of 1,166,545. The business's fifty day moving average price is $3.62 and its two-hundred day moving average price is $3.25. The firm has a market capitalization of $699.98 million, a P/E ratio of -2.08 and a beta of 1.60. Relay Therapeutics, Inc. has a 52 week low of $1.77 and a 52 week high of $8.31.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.08. The business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.07 million. On average, sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

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.