Man Group plc Buys Shares of 173,605 Relay Therapeutics, Inc. (NASDAQ:RLAY)

Man Group plc bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 173,605 shares of the company’s stock, valued at approximately $715,000. Man Group plc owned 0.10% of Relay Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in shares of Relay Therapeutics by 40.8% in the 4th quarter. SG Americas Securities LLC now owns 77,557 shares of the company’s stock valued at $320,000 after buying an additional 22,473 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Relay Therapeutics by 37.8% during the 4th 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 Relay Therapeutics during the 4th quarter worth $120,000. Rhumbline Advisers grew its stake in Relay Therapeutics by 8.6% during the 4th 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. grew its stake in Relay Therapeutics by 7.6% during the 4th 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. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 61,422 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $2.97, for a total transaction of $182,423.34. Following the completion of the sale, the chief executive officer now directly owns 821,667 shares of the company’s stock, valued at $2,440,350.99. This represents a 6.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Catinazzo sold 12,943 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $38,829.00. Following the transaction, the chief financial officer now directly owns 355,376 shares of the company’s stock, valued at approximately $1,066,128. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,320 shares of company stock valued at $280,981 in the last ninety days. Insiders own 4.87% of the company’s stock.

Analyst Ratings Changes

RLAY has been the subject of several analyst reports. The Goldman Sachs Group lowered their target price on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Guggenheim lowered their price objective on Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company started coverage on Relay Therapeutics in a research report on Thursday, April 17th. They set an “equal weight” rating and a $4.00 price objective for the company. Stifel Nicolaus lowered their price objective on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.67.

Relay Therapeutics Stock Up 2.1%

Shares of NASDAQ RLAY opened at $2.91 on Monday. The business has a 50-day moving average price of $2.81 and a 200 day moving average price of $3.82. The stock has a market cap of $498.90 million, a PE ratio of -1.11 and a beta of 1.65. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72.

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

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.