Stifel Financial Corp Makes New Investment in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Stifel Financial Corp acquired a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,200 shares of the company’s stock, valued at approximately $42,000.

Several other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in shares of Relay Therapeutics by 40.8% during the fourth quarter. SG Americas Securities LLC now owns 77,557 shares of the company’s stock worth $320,000 after purchasing an additional 22,473 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Relay Therapeutics by 37.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company’s stock worth $146,000 after purchasing an additional 9,740 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Relay Therapeutics during the fourth quarter worth $120,000. Rhumbline Advisers lifted its position in shares of Relay Therapeutics by 8.6% during the fourth quarter. Rhumbline Advisers now owns 171,444 shares of the company’s stock worth $706,000 after purchasing an additional 13,532 shares in the last quarter. Finally, Congress Asset Management Co. lifted its position in shares of Relay Therapeutics by 7.6% during the fourth quarter. Congress Asset Management Co. now owns 157,485 shares of the company’s stock worth $649,000 after purchasing an additional 11,061 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RLAY has been the topic of a number of recent research reports. 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 research report on Thursday, February 27th. The Goldman Sachs Group reduced their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company started coverage on shares of Relay Therapeutics in a research report on Thursday, April 17th. They set an “equal weight” rating and a $4.00 target price on the stock. Guggenheim cut their price target on shares of Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.67.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY opened at $2.81 on Friday. The stock has a market capitalization of $481.76 million, a price-to-earnings ratio of -1.08 and a beta of 1.65. Relay Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $10.72. The company’s fifty day moving average is $2.87 and its two-hundred day moving average is $3.95.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. The firm had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. The firm’s revenue was down 23.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.62) EPS. Sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Transactions at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 61,422 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $2.97, for a total value of $182,423.34. Following the completion of the transaction, the chief executive officer now owns 821,667 shares in the company, valued at $2,440,350.99. This represents a 6.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter Rahmer sold 10,739 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $32,217.00. Following the completion of the transaction, the insider now owns 390,081 shares of the company’s stock, valued at $1,170,243. This represents a 2.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,320 shares of company stock worth $280,981. Insiders own 4.32% of the company’s stock.

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.