Price T Rowe Associates Inc. MD Sells 1,958,550 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 37.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,321,741 shares of the company's stock after selling 1,958,550 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.98% of Relay Therapeutics worth $13,687,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RLAY. Steward Partners Investment Advisory LLC raised its holdings in Relay Therapeutics by 160.0% during the 4th 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 period. Stifel Financial Corp acquired a new stake in Relay Therapeutics in the 4th quarter worth approximately $42,000. Cibc World Markets Corp acquired a new position in Relay Therapeutics during the 4th quarter worth $47,000. Summit Investment Advisors Inc. grew its holdings in Relay Therapeutics by 41.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock valued at $52,000 after buying an additional 3,760 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its position in Relay Therapeutics by 52.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company's stock worth $73,000 after purchasing an additional 6,104 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Price Performance

Shares of RLAY traded down $0.11 during mid-day trading on Wednesday, hitting $3.04. The stock had a trading volume of 2,919,639 shares, compared to its average volume of 2,040,283. The firm has a market cap of $518.80 million, a P/E ratio of -1.16 and a beta of 1.65. Relay Therapeutics, Inc. has a 52 week low of $1.78 and a 52 week high of $10.72. The business has a fifty day moving average price of $2.94 and a 200-day moving average price of $4.12.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $0.01 million. Relay Therapeutics's quarterly revenue was down 23.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.62) EPS. As a group, research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Guggenheim dropped their target price on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday. Stifel Nicolaus lowered 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. The Goldman Sachs Group reduced their price objective 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. Wells Fargo & Company assumed coverage on 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, HC Wainwright reaffirmed a "buy" rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Relay Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $17.67.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $38,829.00. Following the completion of the transaction, the chief financial officer now directly owns 355,376 shares in the company, valued at approximately $1,066,128. This trade represents a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 140,182 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction 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. The trade was a 18.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,826 shares of company stock valued at $1,099,380 in the last ninety days. Company insiders own 4.32% of the company's stock.

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.