Point72 Asset Management L.P. Acquires 243,353 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Point72 Asset Management L.P. increased its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 18.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,592,753 shares of the company's stock after acquiring an additional 243,353 shares during the quarter. Point72 Asset Management L.P. owned about 0.95% of Relay Therapeutics worth $6,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC lifted its position in Relay Therapeutics by 40.8% during the fourth quarter. SG Americas Securities LLC now owns 77,557 shares of the company's stock valued at $320,000 after purchasing an additional 22,473 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Relay Therapeutics by 37.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company's stock valued at $146,000 after purchasing an additional 9,740 shares during the last quarter. Savant Capital LLC bought a new stake in Relay Therapeutics during the fourth quarter valued at approximately $120,000. Rhumbline Advisers lifted its holdings in shares of Relay Therapeutics by 8.6% in the 4th quarter. Rhumbline Advisers now owns 171,444 shares of the company's stock worth $706,000 after acquiring an additional 13,532 shares during the last quarter. Finally, Congress Asset Management Co. lifted its holdings in shares of Relay Therapeutics by 7.6% in the 4th quarter. Congress Asset Management Co. now owns 157,485 shares of the company's stock worth $649,000 after acquiring an additional 11,061 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Up 2.1%

Shares of RLAY stock traded up $0.06 during mid-day trading on Friday, reaching $2.91. 939,082 shares of the company's stock traded hands, compared to its average volume of 2,078,045. Relay Therapeutics, Inc. has a 12 month low of $1.78 and a 12 month high of $10.72. The company has a market cap of $498.90 million, a P/E ratio of -1.11 and a beta of 1.65. The company's 50-day moving average price is $2.81 and its 200-day moving average price is $3.82.

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 firm had revenue of $7.68 million during the quarter, compared to the consensus estimate of $0.01 million. The business's revenue for the quarter was down 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.62) EPS. Equities analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RLAY shares. The Goldman Sachs Group lowered their price objective 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. Guggenheim reduced their price target on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus reduced their price target on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. HC Wainwright restated a "buy" rating and set a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. Finally, Wells Fargo & Company initiated coverage on shares of Relay Therapeutics in a research note on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 target price on the stock. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.67.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 12,943 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $38,829.00. Following the transaction, the chief financial officer now owns 355,376 shares in the company, valued at approximately $1,066,128. This represents a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 61,422 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $2.97, for a total transaction of $182,423.34. Following the transaction, the chief executive officer now owns 821,667 shares in the company, valued at $2,440,350.99. This represents a 6.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,320 shares of company stock worth $280,981 in the last quarter. Corporate insiders own 4.87% of the company's stock.

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.