Farther Finance Advisors LLC Acquires 16,509 Shares of Relay Therapeutics, Inc. $RLAY

Farther Finance Advisors LLC boosted its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 8,553.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,702 shares of the company’s stock after buying an additional 16,509 shares during the period. Farther Finance Advisors LLC’s holdings in Relay Therapeutics were worth $58,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in Relay Therapeutics by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 63,606 shares of the company’s stock worth $157,000 after purchasing an additional 22,307 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Relay Therapeutics by 2,256.1% during the first quarter. Acadian Asset Management LLC now owns 682,028 shares of the company’s stock worth $1,785,000 after purchasing an additional 653,081 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Relay Therapeutics in the 1st quarter worth approximately $41,000. DekaBank Deutsche Girozentrale lifted its position in Relay Therapeutics by 14.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 68,937 shares of the company’s stock worth $181,000 after buying an additional 8,937 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in Relay Therapeutics in the 1st quarter worth approximately $223,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Up 5.0%

Relay Therapeutics stock opened at $5.48 on Monday. The company has a market capitalization of $944.81 million, a P/E ratio of -2.81 and a beta of 1.75. The stock’s 50 day moving average is $3.96 and its 200 day moving average is $3.39. Relay Therapeutics, Inc. has a twelve month low of $1.77 and a twelve month high of $7.07.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.08. The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.07 million. As a group, equities analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Insider Buying and Selling

In related news, insider Donald A. Bergstrom sold 26,701 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total value of $98,259.68. Following the sale, the insider owned 552,720 shares in the company, valued at $2,034,009.60. This represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter Rahmer sold 15,724 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total value of $57,864.32. Following the completion of the sale, the insider owned 377,998 shares in the company, valued at $1,391,032.64. The trade was a 3.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 149,226 shares of company stock worth $542,926 over the last three months. Corporate insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

RLAY has been the subject of a number of recent research reports. HC Wainwright dropped their target price on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, August 26th. Guggenheim initiated coverage on Relay Therapeutics in a research report on Thursday, September 4th. They issued a “buy” rating and a $15.00 target price for the company. Raymond James Financial dropped their target price on Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating for the company in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Relay Therapeutics in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.50.

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.