Relay Therapeutics, Inc. (NASDAQ:RLAY) Position Boosted by Squarepoint Ops LLC

Squarepoint Ops LLC grew its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 535.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 162,588 shares of the company's stock after purchasing an additional 137,020 shares during the period. Squarepoint Ops LLC owned 0.10% of Relay Therapeutics worth $670,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. SG Americas Securities LLC raised its stake in Relay Therapeutics by 40.8% during the fourth quarter. SG Americas Securities LLC now owns 77,557 shares of the company's stock worth $320,000 after acquiring an additional 22,473 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Relay Therapeutics by 37.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company's stock valued at $146,000 after acquiring an additional 9,740 shares during the period. Savant Capital LLC bought a new position in shares of Relay Therapeutics during the fourth quarter valued at approximately $120,000. Rhumbline Advisers raised its position in shares of 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 during the period. 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 purchasing an additional 11,061 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.

Insider Activity

In other Relay Therapeutics news, insider Peter Rahmer sold 10,739 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $32,217.00. Following the completion of the sale, the insider now directly owns 390,081 shares in the company, valued at $1,170,243. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjiv Patel sold 61,422 shares of the 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 transaction, the chief executive officer now directly owns 821,667 shares of the company's stock, 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 sold 94,320 shares of company stock worth $280,981 over the last three months. Corporate insiders own 4.87% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on RLAY. Stifel Nicolaus reduced their price objective on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. The Goldman Sachs Group lowered their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Guggenheim dropped their price objective on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company assumed coverage on shares of 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 equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.67.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY traded up $0.12 during midday trading on Friday, reaching $3.36. 1,765,054 shares of the company traded hands, compared to its average volume of 2,077,422. The company has a market cap of $576.06 million, a price-to-earnings ratio of -1.29 and a beta of 1.59. The stock has a 50-day moving average price of $2.84 and a 200 day moving average price of $3.68. Relay Therapeutics, Inc. has a 52 week low of $1.78 and a 52 week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.04. The company had revenue of $7.68 million for the quarter, compared to analyst estimates of $0.01 million. During the same period in the previous year, the business posted ($0.62) EPS. The firm's quarterly revenue was down 23.0% on a year-over-year basis. As a group, analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

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.