Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 9.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,978,443 shares of the company's stock after selling 539,073 shares during the period. JPMorgan Chase & Co. owned about 2.97% of Relay Therapeutics worth $20,511,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake in Relay Therapeutics by 160.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock valued at $27,000 after purchasing an additional 4,000 shares during the last quarter. Cibc World Markets Corp purchased a new position in shares of Relay Therapeutics during the fourth quarter valued at approximately $47,000. E Fund Management Co. Ltd. boosted its position in Relay Therapeutics by 52.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company's stock worth $73,000 after acquiring an additional 6,104 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Relay Therapeutics during the fourth quarter worth approximately $102,000. Finally, Savant Capital LLC purchased a new position in shares of Relay Therapeutics during the 4th quarter worth $120,000. Hedge funds and other institutional investors own 96.98% of the company's stock.

Relay Therapeutics Stock Performance

Shares of RLAY stock traded down $0.15 during trading hours on Wednesday, reaching $2.62. The company had a trading volume of 385,156 shares, compared to its average volume of 1,964,651. The stock's fifty day simple moving average is $3.19 and its 200 day simple moving average is $4.49. The company has a market capitalization of $443.30 million, a P/E ratio of -1.00 and a beta of 1.70. Relay Therapeutics, Inc. has a twelve month low of $1.78 and a twelve month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. As a group, equities analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Peter Rahmer sold 17,250 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $76,245.00. Following the completion of the sale, the insider now directly owns 402,431 shares of the company's stock, valued at $1,778,745.02. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjiv Patel sold 75,324 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $3.70, for a total value of $278,698.80. Following the transaction, the chief executive officer now directly owns 883,089 shares in the company, valued at approximately $3,267,429.30. This represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 421,418 shares of company stock worth $1,775,793. 4.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RLAY has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a report on Friday, March 7th. Stifel Nicolaus dropped their price target 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. Finally, The Goldman Sachs Group decreased 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. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.80.

Relay Therapeutics Company 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.