Raymond James Financial Inc. Purchases New Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Raymond James Financial Inc. acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 189,046 shares of the company's stock, valued at approximately $779,000. Raymond James Financial Inc. owned approximately 0.11% of Relay Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Martingale Asset Management L P boosted its holdings in shares of Relay Therapeutics by 3.5% in the fourth quarter. Martingale Asset Management L P now owns 80,371 shares of the company's stock valued at $331,000 after acquiring an additional 2,700 shares in the last quarter. Renaissance Technologies LLC lifted its position in Relay Therapeutics by 130.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,549,190 shares of the company's stock worth $6,383,000 after purchasing an additional 878,095 shares during the period. Invesco Ltd. increased its position in shares of Relay Therapeutics by 4.6% during the 4th quarter. Invesco Ltd. now owns 119,417 shares of the company's stock valued at $492,000 after purchasing an additional 5,261 shares during the period. Federated Hermes Inc. increased its position in shares of Relay Therapeutics by 536.7% during the 4th quarter. Federated Hermes Inc. now owns 50,100 shares of the company's stock valued at $206,000 after purchasing an additional 42,231 shares during the period. Finally, Aristides Capital LLC bought a new stake in shares of Relay Therapeutics in the 4th quarter worth $179,000. Institutional investors own 96.98% of the company's stock.

Relay Therapeutics Trading Up 0.3 %

Shares of RLAY stock traded up $0.01 on Friday, reaching $3.01. The company had a trading volume of 2,907,835 shares, compared to its average volume of 2,075,776. The company has a 50-day moving average of $2.92 and a 200-day moving average of $4.05. The stock has a market cap of $516.05 million, a PE ratio of -1.15 and a beta of 1.65. Relay Therapeutics, Inc. has a 12 month low of $1.78 and a 12 month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. The company had revenue of $7.68 million for the quarter, compared to analyst estimates of $0.01 million. The business's quarterly revenue was down 23.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.62) earnings per share. Sell-side analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 140,182 shares of Relay Therapeutics stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $539,700.70. Following the sale, the chief executive officer now owns 625,948 shares of the company's stock, valued at approximately $2,409,899.80. The trade was a 18.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 12,943 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $38,829.00. Following the sale, the chief financial officer now owns 355,376 shares in the company, valued at approximately $1,066,128. This represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 309,826 shares of company stock valued at $1,099,380. 4.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. 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 price objective for the company. The Goldman Sachs Group decreased their price objective on 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 reaffirmed a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. Stifel Nicolaus lowered their target price on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Guggenheim dropped their target price on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.