692,279 Shares in Relay Therapeutics, Inc. (NASDAQ:RLAY) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 692,279 shares of the company’s stock, valued at approximately $2,852,000. Balyasny Asset Management L.P. owned 0.41% of Relay Therapeutics at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Martingale Asset Management L P boosted its holdings in shares of Relay Therapeutics by 3.5% in the 4th quarter. Martingale Asset Management L P now owns 80,371 shares of the company’s stock valued at $331,000 after buying an additional 2,700 shares during the period. Virtus ETF Advisers LLC raised its stake in Relay Therapeutics by 26.2% during 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. The Manufacturers Life Insurance Company lifted its holdings in Relay Therapeutics by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company’s stock worth $902,000 after acquiring an additional 3,325 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Relay Therapeutics by 41.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company’s stock valued at $52,000 after acquiring an additional 3,760 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in Relay Therapeutics by 160.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after acquiring an additional 4,000 shares during the period. Institutional investors own 96.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a report on Friday, March 7th. Stifel Nicolaus dropped their target price on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Guggenheim cut their target price on Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered their price target 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. Finally, Wells Fargo & Company assumed coverage on shares of Relay Therapeutics in a report on Thursday, April 17th. They issued an “equal weight” rating and a $4.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.67.

Relay Therapeutics Stock Up 0.3%

Shares of RLAY opened at $3.01 on Monday. The firm has a market capitalization of $516.05 million, a PE ratio of -1.15 and a beta of 1.65. The firm has a 50-day moving average price of $2.92 and a 200 day moving average price of $4.03. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72.

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

Insider Buying and Selling at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total transaction of $38,829.00. Following the transaction, the chief financial officer now directly owns 355,376 shares of the company’s stock, valued at $1,066,128. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjiv Patel sold 140,182 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $539,700.70. Following the completion of the sale, the chief executive officer now owns 625,948 shares in the company, valued at approximately $2,409,899.80. This trade represents a 18.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 309,826 shares of company stock valued at $1,099,380. 4.87% of the stock is owned by corporate insiders.

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.