Private Capital Advisors Inc. Makes New $262,000 Investment in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Private Capital Advisors Inc. purchased a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 100,000 shares of the company's stock, valued at approximately $262,000. Private Capital Advisors Inc. owned approximately 0.06% of Relay Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in Relay Therapeutics by 160.0% during 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 in the last quarter. Stifel Financial Corp acquired a new stake in Relay Therapeutics during the 4th quarter valued at $42,000. Twinbeech Capital LP acquired a new stake in Relay Therapeutics during the 4th quarter valued at $42,000. AssuredPartners Investment Advisors LLC acquired a new stake in Relay Therapeutics during the 1st quarter valued at $29,000. Finally, Cibc World Markets Corp acquired a new stake in Relay Therapeutics during the 4th quarter valued at $47,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Trading Up 0.3%

Shares of NASDAQ:RLAY traded up $0.01 during midday trading on Thursday, hitting $3.65. The company had a trading volume of 2,788,875 shares, compared to its average volume of 2,096,582. Relay Therapeutics, Inc. has a 12 month low of $1.78 and a 12 month high of $10.72. The stock has a market cap of $625.79 million, a price-to-earnings ratio of -1.64 and a beta of 1.62. The firm has a fifty day simple moving average of $3.26 and a 200 day simple moving average of $3.46.

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, topping the consensus estimate of ($0.50) by $0.04. The company had revenue of $7.68 million during the quarter, compared to the consensus estimate of $0.01 million. The firm's revenue for the quarter was down 23.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.62) earnings per share. Equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Guggenheim dropped their price target on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company initiated coverage on Relay Therapeutics in a research report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 price objective on the stock. 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, Relay Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $17.67.

Insiders Place Their Bets

In other Relay Therapeutics news, insider Peter Rahmer sold 10,739 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 transaction of $32,217.00. Following the transaction, the insider directly owned 390,081 shares in the company, valued at approximately $1,170,243. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief financial officer owned 355,376 shares in the company, valued at approximately $1,066,128. This represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,537 shares of company stock worth $485,444. Corporate insiders own 4.87% of the company's stock.

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.