Squarepoint Ops LLC Grows Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Squarepoint Ops LLC boosted its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 535.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,588 shares of the company's stock after purchasing an additional 137,020 shares during the quarter. Squarepoint Ops LLC owned about 0.10% of Relay Therapeutics worth $670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RLAY. Raymond James Financial Inc. acquired a new position in shares of Relay Therapeutics during the fourth quarter valued at about $779,000. Teacher Retirement System of Texas boosted its stake in Relay Therapeutics by 19.5% during the 4th quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company's stock valued at $139,000 after purchasing an additional 5,492 shares during the last quarter. Norges Bank bought a new stake in Relay Therapeutics during the 4th quarter worth approximately $23,821,000. Rhumbline Advisers increased its holdings in Relay Therapeutics by 8.6% during the 4th quarter. Rhumbline Advisers now owns 171,444 shares of the company's stock worth $706,000 after purchasing an additional 13,532 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Relay Therapeutics by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company's stock worth $61,924,000 after purchasing an additional 566,595 shares during the last quarter. Institutional investors own 96.98% of the company's stock.

Relay Therapeutics Trading Down 1.8%

Shares of RLAY stock traded down $0.06 during trading hours on Wednesday, hitting $3.23. 1,112,617 shares of the company were exchanged, compared to its average volume of 2,073,723. The firm has a fifty day simple moving average of $2.80 and a 200 day simple moving average of $3.70. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72. The stock has a market capitalization of $553.77 million, a price-to-earnings ratio of -1.24 and a beta of 1.59.

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 for the quarter, topping the consensus estimate of ($0.50) by $0.04. The firm had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. During the same quarter in the previous year, the company posted ($0.62) EPS. The firm's revenue was down 23.0% compared to the same quarter last year. Sell-side analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics stock in a transaction on 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 transaction, the chief financial officer now directly owns 355,376 shares in the company, valued at approximately $1,066,128. The trade was 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 the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $2.97, for a total value of $182,423.34. Following the sale, the chief executive officer now owns 821,667 shares in the company, 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. Insiders have sold a total of 94,320 shares of company stock valued at $280,981 over the last three months. 4.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on RLAY shares. Stifel Nicolaus cut their target price 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. Guggenheim reduced their target price on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company began coverage on shares of Relay Therapeutics in a report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 target price for the company. The Goldman Sachs Group cut their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.67.

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.