Trexquant Investment LP Purchases 566,275 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Trexquant Investment LP grew its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 137.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 978,137 shares of the company’s stock after buying an additional 566,275 shares during the period. Trexquant Investment LP owned approximately 0.58% of Relay Therapeutics worth $4,030,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Relay Therapeutics in the fourth quarter valued at about $23,821,000. JPMorgan Chase & Co. boosted its holdings in Relay Therapeutics by 39.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after purchasing an additional 1,554,115 shares during the period. Franklin Resources Inc. grew its position in shares of Relay Therapeutics by 3,883.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after purchasing an additional 1,361,779 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Relay Therapeutics during the third quarter worth approximately $9,554,000. Finally, Candriam S.C.A. raised its position in shares of Relay Therapeutics by 58.2% in the fourth quarter. Candriam S.C.A. now owns 1,729,199 shares of the company’s stock valued at $7,124,000 after buying an additional 636,494 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RLAY. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. The Goldman Sachs Group decreased 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 reaffirmed a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. Finally, Stifel Nicolaus decreased their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

Relay Therapeutics Trading Down 12.7 %

Shares of Relay Therapeutics stock opened at $2.00 on Friday. The firm’s 50 day moving average is $3.60 and its 200 day moving average is $4.79. The firm has a market capitalization of $339.04 million, a PE ratio of -0.77 and a beta of 1.70. Relay Therapeutics, Inc. has a 1 year low of $1.99 and a 1 year high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. As a group, research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Peter Rahmer sold 17,250 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total transaction of $76,245.00. Following the sale, the insider now directly owns 402,431 shares in the company, valued at $1,778,745.02. This trade represents a 4.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjiv Patel sold 75,324 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $3.70, for a total transaction of $278,698.80. Following the sale, the chief executive officer now directly owns 883,089 shares in the company, valued at $3,267,429.30. The trade was a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 437,994 shares of company stock valued at $1,849,557 in the last 90 days. Corporate insiders own 4.32% of the company’s stock.

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.