Vanguard Group Inc. Boosts Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Vanguard Group Inc. grew its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,030,209 shares of the company's stock after purchasing an additional 566,595 shares during the quarter. Vanguard Group Inc. owned approximately 8.98% of Relay Therapeutics worth $61,924,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RLAY. Geode Capital Management LLC boosted its stake in Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company's stock valued at $19,348,000 after acquiring an additional 367,473 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company's stock valued at $39,064,000 after purchasing an additional 1,554,115 shares during the period. Franklin Resources Inc. increased its position in Relay Therapeutics by 3,883.8% in the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company's stock worth $9,429,000 after buying an additional 1,361,779 shares during the last quarter. Barclays PLC lifted its position in shares of Relay Therapeutics by 118.4% during the 3rd quarter. Barclays PLC now owns 251,819 shares of the company's stock valued at $1,783,000 after buying an additional 136,541 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Relay Therapeutics in the 4th quarter worth about $779,000. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Stock Performance

RLAY traded down $0.05 on Thursday, hitting $2.57. 453,096 shares of the company were exchanged, compared to its average volume of 2,483,010. Relay Therapeutics, Inc. has a 12 month low of $1.77 and a 12 month high of $10.72. The firm has a fifty day simple moving average of $3.16 and a two-hundred day simple moving average of $4.48. The stock has a market capitalization of $434.82 million, a PE ratio of -0.98 and a beta of 1.70.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) EPS for the quarter, beating analysts' consensus estimates of ($0.57) by $0.12. On average, equities analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on RLAY. The Goldman Sachs Group cut their target price 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. Wells Fargo & Company started coverage on Relay Therapeutics in a report on Thursday. They set an "equal weight" rating and a $4.00 target price for the company. Stifel Nicolaus cut 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 report on Thursday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Relay Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $18.36.

Insider Activity at Relay Therapeutics

In related news, insider Peter Rahmer sold 17,250 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $4.42, for a total transaction of $76,245.00. Following the transaction, the insider now owns 402,431 shares in the company, valued at $1,778,745.02. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjiv Patel sold 125,000 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $4.80, for a total value of $600,000.00. Following the sale, the chief executive officer now directly owns 324,548 shares in the company, valued at approximately $1,557,830.40. The trade was a 27.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 421,418 shares of company stock worth $1,775,793 in the last 90 days. Company insiders own 4.32% of the company's stock.

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.