Geode Capital Management LLC Increases Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Geode Capital Management LLC lifted its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,030,157 shares of the company's stock after buying an additional 297,887 shares during the period. Geode Capital Management LLC owned about 1.81% of Relay Therapeutics worth $12,487,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RLAY. Steward Partners Investment Advisory LLC increased its holdings in shares of Relay Therapeutics by 160.0% in 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 period. Cibc World Markets Corp bought a new position in Relay Therapeutics during the 4th quarter worth approximately $47,000. E Fund Management Co. Ltd. increased its stake 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 period. KLP Kapitalforvaltning AS bought a new stake in Relay Therapeutics in the fourth quarter valued at approximately $102,000. Finally, Savant Capital LLC purchased a new stake in shares of Relay Therapeutics during the fourth quarter valued at approximately $120,000. Institutional investors own 96.98% of the company's stock.

Relay Therapeutics Stock Up 0.3 %

Shares of RLAY stock traded up $0.01 during mid-day trading on Friday, reaching $3.20. 1,638,618 shares of the company's stock traded hands, compared to its average volume of 1,980,542. The company's 50-day moving average price is $3.02 and its 200-day moving average price is $4.30. The company has a market cap of $542.47 million, a P/E ratio of -1.23 and a beta of 1.70. 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 Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, beating analysts' consensus estimates of ($0.57) by $0.12. Equities analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented 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 for the company in a report on Thursday, February 27th. 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. HC Wainwright restated a "buy" rating and set a $16.00 price target on shares of Relay Therapeutics in a report on Friday, March 7th. Finally, Wells Fargo & Company started coverage on Relay Therapeutics in a report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.36.

Insider Buying and Selling at Relay Therapeutics

In related news, insider Peter Rahmer sold 17,250 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $76,245.00. Following the transaction, the insider now directly owns 402,431 shares of the company's stock, valued at approximately $1,778,745.02. This represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjiv Patel sold 140,182 shares of Relay Therapeutics stock in a transaction on 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 sale, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 357,840 shares of company stock worth $1,358,217. 4.32% of the stock is owned by insiders.

About Relay Therapeutics

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.