Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock Position Lifted by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 58.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,200 shares of the company’s stock after purchasing an additional 15,492 shares during the quarter. ProShare Advisors LLC’s holdings in Relay Therapeutics were worth $174,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in shares of Relay Therapeutics by 160.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock worth $27,000 after purchasing an additional 4,000 shares during the period. Stifel Financial Corp acquired a new stake in shares of Relay Therapeutics during the 4th quarter worth approximately $42,000. Cibc World Markets Corp acquired a new stake in shares of Relay Therapeutics during the 4th quarter worth approximately $47,000. Summit Investment Advisors Inc. raised its position in shares of Relay Therapeutics by 41.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company’s stock worth $52,000 after purchasing an additional 3,760 shares during the period. Finally, Virtus ETF Advisers LLC raised its position in shares of Relay Therapeutics by 26.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company’s stock worth $61,000 after purchasing an additional 3,092 shares during the period. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price target 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. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. Guggenheim lowered their target price on Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus lowered their target price on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company initiated coverage on Relay Therapeutics in a research report on Thursday, April 17th. They issued an “equal weight” rating and a $4.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.67.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $3.01 on Monday. The stock has a fifty day moving average price of $2.79 and a two-hundred day moving average price of $3.72. The firm has a market cap of $516.05 million, a P/E ratio of -1.15 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.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was down 23.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.62) earnings per share. On average, research analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

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

Relay Therapeutics Company 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.