Cubist Systematic Strategies LLC Sells 42,121 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Cubist Systematic Strategies LLC lessened its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 11.7% in the fourth quarter, Holdings Channel reports. The firm owned 317,211 shares of the company’s stock after selling 42,121 shares during the period. Cubist Systematic Strategies LLC’s holdings in Relay Therapeutics were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Relay Therapeutics in the 4th quarter valued at $779,000. Teacher Retirement System of Texas lifted its position in shares of Relay Therapeutics by 19.5% during the 4th quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company’s stock valued at $139,000 after buying an additional 5,492 shares during the last quarter. Norges Bank purchased a new position in shares of Relay Therapeutics during the 4th quarter valued at $23,821,000. Rhumbline Advisers lifted its position in shares of Relay Therapeutics by 8.6% during the 4th quarter. Rhumbline Advisers now owns 171,444 shares of the company’s stock valued at $706,000 after buying an additional 13,532 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Relay Therapeutics by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company’s stock valued at $61,924,000 after buying an additional 566,595 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 10,739 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $32,217.00. Following the sale, the insider now owns 390,081 shares of the company’s stock, valued at $1,170,243. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas Catinazzo sold 12,943 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total value of $38,829.00. Following the completion of the sale, the chief financial officer now directly owns 355,376 shares in the company, valued at approximately $1,066,128. The trade was a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 169,644 shares of company stock valued at $559,679 in the last 90 days. Corporate insiders own 4.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group dropped 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. Guggenheim dropped their price target on Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company assumed coverage on Relay Therapeutics in a research report on Thursday, April 17th. They set an “equal weight” rating and a $4.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. Finally, Stifel Nicolaus dropped their price target 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. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $2.83 on Wednesday. The stock’s 50-day simple moving average is $2.90 and its 200 day simple moving average is $4.00. The stock has a market capitalization of $485.19 million, a price-to-earnings ratio of -1.08 and a beta of 1.65. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72.

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

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.