Relay Therapeutics, Inc. $RLAY Position Lifted by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 130.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394,122 shares of the company’s stock after acquiring an additional 223,042 shares during the period. Franklin Resources Inc. owned about 0.23% of Relay Therapeutics worth $1,364,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC lifted its position in shares of Relay Therapeutics by 5.0% during the second quarter. Los Angeles Capital Management LLC now owns 68,615 shares of the company’s stock worth $237,000 after purchasing an additional 3,275 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Relay Therapeutics by 4.2% during the 1st quarter. Hsbc Holdings PLC now owns 116,408 shares of the company’s stock valued at $300,000 after acquiring an additional 4,639 shares in the last quarter. FNY Investment Advisers LLC lifted its stake in Relay Therapeutics by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after purchasing an additional 5,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Relay Therapeutics by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after purchasing an additional 5,238 shares during the period. Finally, Swiss National Bank increased its stake in Relay Therapeutics by 3.4% during the first quarter. Swiss National Bank now owns 227,000 shares of the company’s stock valued at $595,000 after purchasing an additional 7,400 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sanjiv Patel sold 62,073 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $7.00, for a total value of $434,511.00. Following the completion of the transaction, the chief executive officer owned 703,215 shares in the company, valued at $4,922,505. This represents a 8.11% 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 21,394 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $7.50, for a total transaction of $160,455.00. Following the transaction, the insider directly owned 337,469 shares in the company, valued at approximately $2,531,017.50. The trade was a 5.96% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 155,163 shares of company stock worth $1,117,630. 4.87% of the stock is owned by company insiders.

Relay Therapeutics Trading Down 4.0%

RLAY opened at $7.68 on Friday. The business’s 50 day moving average is $6.71 and its 200-day moving average is $4.67. The stock has a market cap of $1.33 billion, a PE ratio of -4.39 and a beta of 1.50. Relay Therapeutics, Inc. has a twelve month low of $1.77 and a twelve month high of $8.36.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). As a group, analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on RLAY shares. Wells Fargo & Company lifted their price target on shares of Relay Therapeutics from $4.00 to $6.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Raymond James Financial decreased their target price on Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating for the company in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a report on Tuesday, October 14th. HC Wainwright cut their price target on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, August 26th. Finally, Guggenheim started coverage on Relay Therapeutics in a research note on Thursday, September 4th. They set a “buy” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.

Relay Therapeutics 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.