Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,353 shares of the company’s stock after selling 1,681 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Relay Therapeutics were worth $642,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Relay Therapeutics by 198.6% during the third quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock worth $29,000 after acquiring an additional 856 shares during the period. Great West Life Assurance Co. Can grew its holdings in Relay Therapeutics by 48.9% during the first quarter. Great West Life Assurance Co. Can now owns 2,494 shares of the company’s stock worth $79,000 after acquiring an additional 819 shares during the period. Russell Investments Group Ltd. acquired a new position in Relay Therapeutics during the second quarter worth about $39,000. Metropolitan Life Insurance Co NY grew its holdings in Relay Therapeutics by 15.5% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,264 shares of the company’s stock worth $79,000 after acquiring an additional 706 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in Relay Therapeutics by 12.7% during the first quarter. Vontobel Holding Ltd. now owns 7,413 shares of the company’s stock worth $222,000 after acquiring an additional 833 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on RLAY. Leerink Partnrs reaffirmed an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Stifel Nicolaus increased their price target on Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Relay Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $23.69.

Relay Therapeutics Stock Down 7.9 %

NASDAQ:RLAY opened at $6.21 on Thursday. Relay Therapeutics, Inc. has a 1-year low of $5.95 and a 1-year high of $18.00. The firm has a market capitalization of $814.63 million, a price-to-earnings ratio of -2.22 and a beta of 1.63. The stock has a fifty day simple moving average of $8.74 and a 200 day simple moving average of $8.94.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, February 22nd. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.09. Relay Therapeutics had a negative return on equity of 42.43% and a negative net margin of 1,263.49%. During the same period in the prior year, the business posted ($0.56) EPS. Equities analysts predict that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current year.

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.