Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 70.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,890 shares of the company’s stock after selling 74,279 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Relay Therapeutics were worth $226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Logos Global Management LP acquired a new position in Relay Therapeutics in the second quarter worth $8,476,000. Vanguard Group Inc. grew its position in shares of Relay Therapeutics by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock valued at $98,070,000 after buying an additional 1,165,282 shares during the last quarter. Millennium Management LLC raised its stake in Relay Therapeutics by 404.2% during the second quarter. Millennium Management LLC now owns 1,149,177 shares of the company’s stock worth $7,493,000 after acquiring an additional 921,271 shares during the period. Marshall Wace LLP bought a new position in Relay Therapeutics in the second quarter worth about $1,804,000. Finally, Driehaus Capital Management LLC boosted its stake in Relay Therapeutics by 54.9% in the second quarter. Driehaus Capital Management LLC now owns 616,220 shares of the company’s stock valued at $4,018,000 after acquiring an additional 218,302 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the transaction, the chief financial officer now owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This trade represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.32% of the stock is owned by insiders.

Relay Therapeutics Trading Down 4.2 %

RLAY stock opened at $4.89 on Tuesday. The firm’s 50-day moving average is $6.62 and its two-hundred day moving average is $6.98. The company has a market capitalization of $818.50 million, a price-to-earnings ratio of -1.87 and a beta of 1.67. Relay Therapeutics, Inc. has a 52 week low of $4.88 and a 52 week high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.14. Relay Therapeutics’s revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.54) EPS. On average, equities research analysts predict that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RLAY shares. Bank of America increased their price target on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research note on Tuesday, September 17th. Oppenheimer cut shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. reduced their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Finally, HC Wainwright raised their price target on shares of Relay Therapeutics from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $21.22.

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.