MPM Bioimpact LLC Has $9.35 Million Stock Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

MPM Bioimpact LLC increased its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,268,825 shares of the company's stock after acquiring an additional 235,784 shares during the period. MPM Bioimpact LLC owned about 1.36% of Relay Therapeutics worth $9,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Martingale Asset Management L P raised its holdings in shares of Relay Therapeutics by 3.5% during the fourth quarter. Martingale Asset Management L P now owns 80,371 shares of the company's stock worth $331,000 after acquiring an additional 2,700 shares in the last quarter. Virtus ETF Advisers LLC increased its position in Relay Therapeutics by 26.2% during the fourth quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock worth $61,000 after buying an additional 3,092 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Relay Therapeutics by 1.5% during 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 during the last quarter. Summit Investment Advisors Inc. increased its position in Relay Therapeutics by 41.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock worth $52,000 after buying an additional 3,760 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock worth $27,000 after buying an additional 4,000 shares during the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on RLAY. Stifel Nicolaus lowered their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. The Goldman Sachs Group lowered their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company began coverage on shares of Relay Therapeutics in a research report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 target price on the stock. Finally, Guggenheim lowered their target price on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Relay Therapeutics has an average rating of "Moderate Buy" and an average target price of $17.67.

Relay Therapeutics Stock Up 3.8%

Relay Therapeutics stock traded up $0.11 during trading hours on Monday, hitting $2.92. The stock had a trading volume of 715,827 shares, compared to its average volume of 2,483,829. Relay Therapeutics, Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $10.72. The company has a market cap of $500.28 million, a PE ratio of -1.12 and a beta of 1.65. The company has a 50-day moving average of $2.87 and a two-hundred day moving average of $3.93.

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

Insider Buying and Selling at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 61,422 shares of the business's 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 sale, the chief executive officer now owns 821,667 shares in the company, valued at approximately $2,440,350.99. The trade was a 6.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Rahmer sold 10,739 shares of the business's 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 completion of the sale, the insider now owns 390,081 shares in the company, valued at $1,170,243. This represents a 2.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,320 shares of company stock valued at $280,981 in the last 90 days. 4.87% of the stock is currently owned by company insiders.

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.