Corebridge Financial Inc. Acquires 7,314 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Corebridge Financial Inc. boosted its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 13.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,500 shares of the company’s stock after acquiring an additional 7,314 shares during the quarter. Corebridge Financial Inc.’s holdings in Relay Therapeutics were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC boosted its position in shares of Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after buying an additional 4,000 shares during the last quarter. Cibc World Markets Corp purchased a new stake in Relay Therapeutics in the 4th quarter valued at $47,000. E Fund Management Co. Ltd. lifted its stake in Relay Therapeutics by 52.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock valued at $73,000 after acquiring an additional 6,104 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Relay Therapeutics during the 4th quarter worth $102,000. Finally, Savant Capital LLC bought a new stake in shares of Relay Therapeutics in the 4th quarter worth $120,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Trading Up 9.0 %

Shares of NASDAQ RLAY opened at $2.42 on Friday. The stock has a fifty day simple moving average of $3.27 and a two-hundred day simple moving average of $4.56. Relay Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $10.72. The firm has a market cap of $410.24 million, a price-to-earnings ratio of -0.93 and a beta of 1.70.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.12. Analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RLAY shares. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a report on Friday, March 7th. The Goldman Sachs Group decreased their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Stifel Nicolaus cut their target price on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Relay Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $19.80.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 17,250 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $76,245.00. Following the completion of the transaction, the insider now owns 402,431 shares in the company, valued at $1,778,745.02. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjiv Patel sold 125,000 shares of the company’s stock in a transaction dated 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 owns 324,548 shares in the company, valued at approximately $1,557,830.40. This represents a 27.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 421,418 shares of company stock worth $1,775,793 over the last quarter. Corporate 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.