Voloridge Investment Management LLC Has $2.57 Million Stock Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Voloridge Investment Management LLC reduced its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 49.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 623,339 shares of the company's stock after selling 607,037 shares during the period. Voloridge Investment Management LLC owned 0.37% of Relay Therapeutics worth $2,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Relay Therapeutics by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company's stock valued at $61,924,000 after buying an additional 566,595 shares during the last quarter. Tang Capital Management LLC increased its stake in shares of Relay Therapeutics by 126.1% during the 4th quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company's stock worth $33,240,000 after purchasing an additional 4,500,000 shares during the last quarter. Norges Bank acquired a new position in shares of Relay Therapeutics during the 4th quarter worth about $23,821,000. Geode Capital Management LLC increased its stake in shares of Relay Therapeutics by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 3,030,157 shares of the company's stock worth $12,487,000 after purchasing an additional 297,887 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Relay Therapeutics by 69.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company's stock worth $12,216,000 after buying an additional 1,216,334 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock traded down $0.07 on Friday, reaching $3.01. 1,407,436 shares of the stock were exchanged, compared to its average volume of 2,079,645. The firm's 50 day moving average is $2.79 and its 200-day moving average is $3.72. Relay Therapeutics, Inc. has a one year low of $1.78 and a one year high of $10.72. The firm has a market cap of $516.05 million, a PE ratio of -1.15 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share for the quarter, topping analysts' consensus estimates 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. The business's revenue was down 23.0% on a year-over-year basis. During the same period last year, the company posted ($0.62) EPS. On average, equities research analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 61,422 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 821,667 shares of the company's stock, valued at $2,440,350.99. This represents a 6.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas Catinazzo sold 12,943 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 355,376 shares of the company's stock, valued at approximately $1,066,128. The trade was a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,320 shares of company stock valued at $280,981 in the last quarter. Insiders own 4.87% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on RLAY shares. Guggenheim lowered their price target on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. Wells Fargo & Company started coverage on shares of Relay Therapeutics in a research note on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.67.

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.