Boxer Capital Management LLC Invests $2.21 Million in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Boxer Capital Management LLC purchased a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 4th quarter, HoldingsChannel reports. The fund purchased 536,132 shares of the company’s stock, valued at approximately $2,209,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in Relay Therapeutics in the fourth quarter worth approximately $23,821,000. JPMorgan Chase & Co. grew its holdings in shares of Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after buying an additional 1,554,115 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Relay Therapeutics by 3,883.8% during the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after acquiring an additional 1,361,779 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Relay Therapeutics by 69.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company’s stock worth $12,216,000 after acquiring an additional 1,216,334 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Relay Therapeutics by 130.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,549,190 shares of the company’s stock valued at $6,383,000 after purchasing an additional 878,095 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Insider Activity

In related news, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Rahmer sold 10,739 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total value of $32,217.00. Following the transaction, the insider now directly owns 390,081 shares of the company’s stock, valued at $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 90 days, insiders sold 309,826 shares of company stock worth $1,099,380. 4.32% of the stock is currently owned by insiders.

Relay Therapeutics Trading Down 1.2 %

Shares of Relay Therapeutics stock opened at $3.29 on Friday. The company’s 50-day moving average price is $2.96 and its 200-day moving average price is $4.21. The company has a market cap of $557.73 million, a price-to-earnings ratio of -1.26 and a beta of 1.70. Relay Therapeutics, Inc. has a 12-month low of $1.78 and a 12-month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.12. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.