Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,886 shares of the company’s stock after selling 11,229 shares during the period. Legal & General Group Plc owned approximately 0.07% of Relay Therapeutics worth $515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RLAY. JPMorgan Chase & Co. increased its holdings in Relay Therapeutics by 39.2% in the 3rd 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 last quarter. Franklin Resources Inc. grew its stake in shares of Relay Therapeutics by 3,883.8% in the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after buying an additional 1,361,779 shares in the last quarter. Barclays PLC raised its holdings in shares of Relay Therapeutics by 118.4% in 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 period. Raymond James Financial Inc. acquired a new position in Relay Therapeutics during the 4th quarter worth about $779,000. Finally, Teacher Retirement System of Texas boosted its holdings in Relay Therapeutics by 19.5% during the 4th quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company’s stock valued at $139,000 after acquiring an additional 5,492 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Relay Therapeutics

In related news, insider Peter Rahmer sold 17,250 shares of the company’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 sale, the insider now directly owns 402,431 shares of the company’s stock, valued at $1,778,745.02. This 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 the SEC website. Also, CFO Thomas Catinazzo sold 20,791 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $91,896.22. Following the transaction, the chief financial officer now directly owns 379,431 shares in the company, valued at approximately $1,677,085.02. This trade represents a 5.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 320,131 shares of company stock worth $1,183,624 over the last 90 days. Corporate insiders own 4.32% of the company’s stock.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $3.10 on Wednesday. The stock’s 50-day simple moving average is $2.98 and its 200-day simple moving average is $4.24. The firm has a market capitalization of $525.52 million, a PE ratio of -1.19 and a beta of 1.70. Relay Therapeutics, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last issued 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. On average, sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RLAY shares. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. Stifel Nicolaus reduced their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group cut their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company began 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. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $18.36.

About Relay Therapeutics

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.