PDT Partners LLC Sells 99,360 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

PDT Partners LLC lessened its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 43.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 127,272 shares of the company’s stock after selling 99,360 shares during the period. PDT Partners LLC’s holdings in Relay Therapeutics were worth $901,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RLAY. Vanguard Group Inc. grew its position in Relay Therapeutics by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock worth $98,070,000 after acquiring an additional 1,165,282 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Relay Therapeutics during the first quarter worth about $87,000. Bank of New York Mellon Corp grew its holdings in shares of Relay Therapeutics by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 354,667 shares of the company’s stock worth $2,312,000 after purchasing an additional 48,219 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Relay Therapeutics by 304.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 38,656 shares of the company’s stock valued at $252,000 after buying an additional 29,087 shares during the period. Finally, Rhumbline Advisers raised its holdings in Relay Therapeutics by 4.8% in the 2nd quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock valued at $1,069,000 after buying an additional 7,508 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RLAY. Oppenheimer lowered shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, September 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research report on Monday, September 16th. Barclays upped their price target on Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.22.

Insider Activity at Relay Therapeutics

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

Relay Therapeutics Trading Down 2.1 %

Shares of Relay Therapeutics stock opened at $4.70 on Monday. The company has a market cap of $786.70 million, a P/E ratio of -1.80 and a beta of 1.67. The business has a 50-day moving average price of $6.06 and a two-hundred day moving average price of $6.86. Relay Therapeutics, Inc. has a 1-year low of $4.48 and a 1-year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last released 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. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.54) EPS. Equities research analysts forecast that Relay Therapeutics, Inc. will post -2.61 EPS for the current fiscal 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.