Schonfeld Strategic Advisors LLC Buys Shares of 354,500 Relay Therapeutics, Inc. (NASDAQ:RLAY)

Schonfeld Strategic Advisors LLC purchased a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 354,500 shares of the company’s stock, valued at approximately $1,461,000.

A number of other large investors have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its stake in shares of Relay Therapeutics by 160.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock worth $27,000 after acquiring an additional 4,000 shares during the period. Stifel Financial Corp purchased a new stake in Relay Therapeutics during the 4th quarter valued at $42,000. Cibc World Markets Corp bought a new position in shares of Relay Therapeutics during the 4th quarter valued at $47,000. Summit Investment Advisors Inc. boosted its stake in shares of Relay Therapeutics by 41.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company’s stock worth $52,000 after buying an additional 3,760 shares during the last quarter. Finally, Virtus ETF Advisers LLC grew its holdings in shares of Relay Therapeutics by 26.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company’s stock worth $61,000 after acquiring an additional 3,092 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 140,182 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $539,700.70. Following the completion of the transaction, the chief executive officer now directly owns 625,948 shares of the company’s stock, valued at approximately $2,409,899.80. This trade represents a 18.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Rahmer sold 10,739 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total transaction of $32,217.00. Following the completion of the sale, the insider now owns 390,081 shares in the company, valued at approximately $1,170,243. The trade was a 2.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 309,826 shares of company stock valued at $1,099,380. Corporate insiders own 4.32% of the company’s stock.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $3.15 on Wednesday. Relay Therapeutics, Inc. has a one year low of $1.78 and a one year high of $10.72. The company’s fifty day moving average price is $2.94 and its 200-day moving average price is $4.12. The company has a market capitalization of $537.04 million, a price-to-earnings ratio of -1.21 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. The business had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. Relay Therapeutics’s revenue was down 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.62) earnings per share. Equities research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on RLAY shares. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. Wells Fargo & Company assumed coverage on shares of Relay Therapeutics in a research report on Thursday, April 17th. They set an “equal weight” rating and a $4.00 target price for the company. Stifel Nicolaus decreased their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group cut their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.36.

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.