Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock Holdings Raised by MPM Bioimpact LLC

MPM Bioimpact LLC boosted its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,268,825 shares of the company's stock after buying an additional 235,784 shares during the quarter. MPM Bioimpact LLC owned approximately 1.36% of Relay Therapeutics worth $9,348,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Martingale Asset Management L P increased its holdings in shares of Relay Therapeutics by 3.5% during the 4th quarter. Martingale Asset Management L P now owns 80,371 shares of the company's stock worth $331,000 after buying an additional 2,700 shares during the last quarter. Virtus ETF Advisers LLC raised its position in Relay Therapeutics by 26.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock valued at $61,000 after purchasing an additional 3,092 shares during the period. The Manufacturers Life Insurance Company raised its position 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 valued at $902,000 after purchasing an additional 3,325 shares during the period. Summit Investment Advisors Inc. raised its position in Relay Therapeutics by 41.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock valued at $52,000 after purchasing an additional 3,760 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in Relay Therapeutics by 160.0% in the fourth 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 period. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 12,943 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 value of $38,829.00. Following the transaction, the chief financial officer now owns 355,376 shares in the company, valued at $1,066,128. The trade was a 3.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjiv Patel sold 61,422 shares of the business's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $2.97, for a total transaction of $182,423.34. Following the completion of the transaction, the chief executive officer now owns 821,667 shares in the company, valued at $2,440,350.99. This represents a 6.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,320 shares of company stock worth $280,981 in the last quarter. 4.32% of the stock is owned by insiders.

Relay Therapeutics Stock Up 0.7%

Shares of RLAY traded up $0.02 during mid-day trading on Friday, reaching $2.81. 1,282,124 shares of the company's stock were exchanged, compared to its average volume of 2,073,835. The company has a 50-day simple moving average of $2.87 and a two-hundred day simple moving average of $3.95. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72. The company has a market cap of $481.76 million, a price-to-earnings ratio of -1.08 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $7.68 million for the quarter, compared to analysts' expectations of $0.01 million. During the same period last year, the business earned ($0.62) earnings per share. The company's revenue for the quarter was down 23.0% on a year-over-year basis. As a group, equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Guggenheim cut their price objective 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 reduced their price objective on shares of Relay Therapeutics from $20.00 to $18.00 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 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. Wells Fargo & Company initiated coverage on shares of Relay Therapeutics in a research report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.67.

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.