Voya Investment Management LLC Purchases 128,934 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Voya Investment Management LLC raised its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 392.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 161,827 shares of the company's stock after buying an additional 128,934 shares during the period. Voya Investment Management LLC owned about 0.10% of Relay Therapeutics worth $667,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Martingale Asset Management L P lifted its stake in shares of Relay Therapeutics by 3.5% in the 4th quarter. Martingale Asset Management L P now owns 80,371 shares of the company's stock valued at $331,000 after purchasing an additional 2,700 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Relay Therapeutics by 41.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock worth $52,000 after acquiring an additional 3,760 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in 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 acquiring an additional 4,000 shares in the last quarter. Invesco Ltd. boosted its holdings in Relay Therapeutics by 4.6% in the fourth quarter. Invesco Ltd. now owns 119,417 shares of the company's stock worth $492,000 after acquiring an additional 5,261 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Relay Therapeutics by 19.5% in the fourth quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company's stock worth $139,000 after acquiring an additional 5,492 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY traded down $0.02 during trading on Wednesday, hitting $2.82. 366,003 shares of the company were exchanged, compared to its average volume of 2,071,413. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72. The company has a market cap of $482.62 million, a PE ratio of -1.08 and a beta of 1.65. The stock has a 50 day moving average of $2.90 and a 200 day moving average of $4.00.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share for the quarter, beating 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 in the previous year, the business earned ($0.62) EPS. The company's revenue for the quarter was down 23.0% on a year-over-year basis. Sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research note on Friday, March 7th. The Goldman Sachs Group reduced their target price on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Wells Fargo & Company initiated coverage on Relay Therapeutics in a report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 target price for the company. Guggenheim reduced 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, May 7th. Finally, Stifel Nicolaus reduced their target price on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.67.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 12,943 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total transaction of $38,829.00. Following the transaction, the chief financial officer now directly owns 355,376 shares of the company's stock, valued at $1,066,128. This represents a 3.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjiv Patel sold 75,324 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $3.70, for a total transaction of $278,698.80. Following the completion of the sale, the chief executive officer now directly owns 883,089 shares of the company's stock, valued at $3,267,429.30. This represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,644 shares of company stock valued at $559,679. 4.32% of the stock is currently owned by corporate insiders.

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.