Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP reduced its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 816,085 shares of the company's stock after selling 199,482 shares during the quarter. Two Sigma Investments LP owned 0.49% of Relay Therapeutics worth $3,362,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in RLAY. SG Americas Securities LLC increased its position in shares of Relay Therapeutics by 40.8% in 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 in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of 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 worth $146,000 after acquiring an additional 9,740 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Relay Therapeutics in the fourth quarter worth $120,000. Rhumbline Advisers increased its position in shares of Relay Therapeutics by 8.6% in the fourth quarter. Rhumbline Advisers now owns 171,444 shares of the company's stock worth $706,000 after acquiring an additional 13,532 shares in the last quarter. Finally, Congress Asset Management Co. increased its position in shares of Relay Therapeutics by 7.6% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RLAY shares. Guggenheim dropped their price objective on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus dropped their price objective on shares of 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 restated a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. 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 for the company. Finally, The Goldman Sachs Group decreased their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.67.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 10,739 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $32,217.00. Following the transaction, the insider now directly owns 390,081 shares in the company, valued at $1,170,243. This represents a 2.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas Catinazzo sold 12,943 shares of the stock in a transaction on 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 $1,066,128. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,320 shares of company stock worth $280,981 in the last ninety days. 4.87% of the stock is owned by insiders.

Relay Therapeutics Trading Up 3.5%

NASDAQ RLAY traded up $0.11 during trading hours on Tuesday, reaching $3.29. 1,717,974 shares of the company traded hands, compared to its average volume of 2,077,567. Relay Therapeutics, Inc. has a 12 month low of $1.78 and a 12 month high of $10.72. The stock has a market capitalization of $564.05 million, a PE ratio of -1.26 and a beta of 1.59. The company has a 50 day moving average of $2.80 and a two-hundred day moving average of $3.70.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.46) EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.04. The company had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. During the same quarter last year, the company earned ($0.62) earnings per share. The company's revenue was down 23.0% compared to the same quarter last year. On average, equities research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share 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.