Intech Investment Management LLC Purchases Shares of 36,176 Relay Therapeutics, Inc. (NASDAQ:RLAY)

Intech Investment Management LLC purchased a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 36,176 shares of the company’s stock, valued at approximately $256,000.

Several other hedge funds have also recently bought and sold shares of RLAY. Logos Global Management LP acquired a new position in Relay Therapeutics during the second quarter valued at approximately $8,476,000. First Turn Management LLC acquired a new position in Relay Therapeutics during the 3rd quarter worth approximately $8,683,000. Millennium Management LLC lifted its stake in Relay Therapeutics by 404.2% in the 2nd quarter. Millennium Management LLC now owns 1,149,177 shares of the company’s stock valued at $7,493,000 after purchasing an additional 921,271 shares during the last quarter. Renaissance Technologies LLC boosted its position in Relay Therapeutics by 19.1% in the second quarter. Renaissance Technologies LLC now owns 909,037 shares of the company’s stock valued at $5,927,000 after buying an additional 145,837 shares in the last quarter. Finally, Integral Health Asset Management LLC boosted its position in Relay Therapeutics by 3.4% in the second quarter. Integral Health Asset Management LLC now owns 750,000 shares of the company’s stock valued at $4,890,000 after buying an additional 25,000 shares in the last quarter. 96.98% of the stock is owned by institutional investors.

Insider Activity

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the transaction, the chief financial officer now directly owns 306,391 shares in the company, valued at $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.32% of the stock is currently owned by corporate insiders.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY opened at $4.28 on Friday. The stock has a market capitalization of $716.40 million, a P/E ratio of -1.64 and a beta of 1.59. Relay Therapeutics, Inc. has a 1 year low of $4.25 and a 1 year high of $12.14. The company has a 50-day moving average price of $5.84 and a 200-day moving average price of $6.79.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.14. Relay Therapeutics’s revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.54) EPS. As a group, equities research analysts anticipate that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on RLAY shares. Leerink Partners dropped their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. reduced their price target on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. HC Wainwright decreased their target price on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday. Barclays increased their price target on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Relay Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $20.50.

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.