Relay Therapeutics, Inc. (NASDAQ:RLAY) is Casdin Capital LLC's 9th Largest Position

Casdin Capital LLC reduced its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,948,574 shares of the company's stock after selling 302,534 shares during the quarter. Relay Therapeutics accounts for 2.5% of Casdin Capital LLC's investment portfolio, making the stock its 9th biggest holding. Casdin Capital LLC owned about 5.35% of Relay Therapeutics worth $36,868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RLAY. Steward Partners Investment Advisory LLC increased 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 buying an additional 4,000 shares during the period. Stifel Financial Corp acquired a new position in shares of Relay Therapeutics during the fourth quarter worth about $42,000. Cibc World Markets Corp purchased a new position in Relay Therapeutics during the fourth quarter worth about $47,000. Summit Investment Advisors Inc. lifted 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, Virtus ETF Advisers LLC increased its position in Relay Therapeutics by 26.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock worth $61,000 after purchasing an additional 3,092 shares during the period. Hedge funds and other institutional investors own 96.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RLAY shares. Wells Fargo & Company started coverage on 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. The Goldman Sachs Group lowered their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus reduced their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright restated a "buy" rating and set a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.36.

Relay Therapeutics Stock Up 2.2 %

RLAY opened at $3.32 on Tuesday. The firm has a market cap of $566.02 million, a P/E ratio of -1.27 and a beta of 1.65. The business's fifty day simple moving average is $2.94 and its 200 day simple moving average is $4.13. Relay Therapeutics, Inc. has a 52 week low of $1.78 and a 52 week high of $10.72.

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

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 12,943 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total transaction of $38,829.00. Following the completion of the sale, the chief financial officer now owns 355,376 shares of the company's stock, valued at approximately $1,066,128. The trade was a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 140,182 shares of the firm's 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 completion of the transaction, the chief executive officer now owns 625,948 shares in the company, valued at approximately $2,409,899.80. This trade represents a 18.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 309,826 shares of company stock valued at $1,099,380 in the last quarter. 4.32% 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.

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