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 acquired a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 85,200 shares of the company's stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stifel Financial Corp purchased a new stake in Relay Therapeutics in the fourth quarter worth about $42,000. Twinbeech Capital LP purchased a new stake in shares of Relay Therapeutics during the fourth quarter valued at approximately $42,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of Relay Therapeutics during the first quarter valued at approximately $29,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Relay Therapeutics during the first quarter valued at approximately $41,000. Finally, CWM LLC grew its holdings in shares of Relay Therapeutics by 368.6% during the first quarter. CWM LLC now owns 20,269 shares of the company's stock valued at $53,000 after buying an additional 15,944 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company's stock.

Relay Therapeutics Trading Down 2.7%

Shares of RLAY stock opened at $4.00 on Friday. Relay Therapeutics, Inc. has a 12-month low of $1.77 and a 12-month high of $10.72. The firm's 50 day moving average is $3.57 and its 200 day moving average is $3.25. The stock has a market capitalization of $689.64 million, a P/E ratio of -2.05 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.08. The company had revenue of $0.70 million during the quarter, compared to analysts' expectations of $0.07 million. As a group, equities analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 61,379 shares of the firm'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 sale, the chief executive officer owned 765,288 shares in the company, valued at approximately $2,732,078.16. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian Adams sold 18,276 shares of the 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 $67,255.68. Following the completion of the transaction, the insider owned 371,472 shares in the company, valued at $1,367,016.96. The trade was a 4.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 149,226 shares of company stock valued at $542,926 in the last ninety days. Corporate insiders own 4.87% of the company's stock.

Analysts Set New Price Targets

RLAY has been the topic of a number of recent analyst reports. HC Wainwright cut their price target on shares of Relay Therapeutics from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, August 26th. Guggenheim initiated coverage on shares of Relay Therapeutics in a report on Thursday. They set a "buy" rating and a $15.00 price target on the stock. Finally, Raymond James Financial cut their price target on shares of Relay Therapeutics from $29.00 to $19.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Relay Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $17.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.