Trexquant Investment LP Lowers Holdings in Relay Therapeutics, Inc. $RLAY

Key Points

• Trexquant Investment LP has significantly reduced its stake in Relay Therapeutics by 66.8%, now owning 324,469 shares worth approximately $850,000 after selling 653,668 shares in Q1.
• In Q1, multiple institutional investors increased their holdings in Relay Therapeutics, with notable increases from Hsbc Holdings (+4.2%) and DekaBank Deutsche Girozentrale (+14.9%).
• Relay Therapeutics recently reported earnings with better-than-expected results, posting a loss of ($0.41) EPS, surpassing analyst estimates of ($0.49) EPS.

Trexquant Investment LP decreased its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 66.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 324,469 shares of the company's stock after selling 653,668 shares during the period. Trexquant Investment LP owned 0.19% of Relay Therapeutics worth $850,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in Relay Therapeutics by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company's stock worth $902,000 after buying an additional 3,325 shares in the last quarter. Hsbc Holdings PLC raised its stake in Relay Therapeutics by 4.2% in the first quarter. Hsbc Holdings PLC now owns 116,408 shares of the company's stock worth $300,000 after buying an additional 4,639 shares in the last quarter. Swiss National Bank raised its stake in Relay Therapeutics by 3.4% in the first quarter. Swiss National Bank now owns 227,000 shares of the company's stock worth $595,000 after buying an additional 7,400 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Relay Therapeutics by 14.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 68,937 shares of the company's stock worth $181,000 after buying an additional 8,937 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Relay Therapeutics by 4.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 232,582 shares of the company's stock worth $958,000 after buying an additional 9,293 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company's stock.

Relay Therapeutics Trading Up 3.0%

Shares of RLAY stock opened at $4.12 on Monday. The business's fifty day simple moving average is $3.59 and its 200-day simple moving average is $3.24. The company has a market cap of $710.33 million, a PE ratio of -2.11 and a beta of 1.60. Relay Therapeutics, Inc. has a 12-month low of $1.77 and a 12-month high of $10.72.

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

Insider Buying and Selling at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 18,380 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total value of $67,638.40. Following the transaction, the chief financial officer directly owned 335,295 shares of the company's stock, valued at $1,233,885.60. This represents a 5.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Adams sold 18,276 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total value of $67,255.68. Following the completion of the transaction, the insider directly owned 371,472 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 149,226 shares of company stock valued at $542,926. Corporate insiders own 4.32% of the company's stock.

Wall Street Analyst Weigh In

RLAY has been the subject of a number of recent research reports. HC Wainwright reduced their price objective on shares of Relay Therapeutics from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, August 26th. Guggenheim initiated coverage on shares of Relay Therapeutics in a research note on Thursday. They issued a "buy" rating and a $15.00 price objective for the company. Finally, Raymond James Financial reduced their price objective on shares of Relay Therapeutics from $29.00 to $19.00 and set a "strong-buy" rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.

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