Braidwell LP Boosts Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Braidwell LP lifted its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 16.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,499,427 shares of the company’s stock after purchasing an additional 492,628 shares during the period. Braidwell LP’s holdings in Relay Therapeutics were worth $24,776,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Relay Therapeutics by 10.9% during the first quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock valued at $98,070,000 after acquiring an additional 1,165,282 shares during the last quarter. Eventide Asset Management LLC purchased a new stake in shares of Relay Therapeutics during the 3rd quarter worth approximately $18,989,000. Walleye Capital LLC lifted its position in shares of Relay Therapeutics by 6,659.2% during the 3rd quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock worth $12,885,000 after buying an additional 1,793,057 shares during the last quarter. Finepoint Capital LP raised its position in Relay Therapeutics by 1.3% in the 3rd quarter. Finepoint Capital LP now owns 1,626,146 shares of the company’s stock valued at $11,513,000 after purchasing an additional 20,800 shares during the last quarter. Finally, Logos Global Management LP purchased a new stake in Relay Therapeutics in the 2nd quarter valued at $8,476,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on RLAY shares. JPMorgan Chase & Co. dropped their price objective on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Oppenheimer cut shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. HC Wainwright boosted their price objective on shares of Relay Therapeutics from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Bank of America boosted their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.22.

Relay Therapeutics Stock Up 0.8 %

NASDAQ:RLAY opened at $4.80 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $4.48 and a fifty-two week high of $12.14. The stock has a market cap of $803.42 million, a PE ratio of -1.84 and a beta of 1.67. The firm’s fifty day simple moving average is $6.12 and its 200-day simple moving average is $6.87.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The company’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.54) earnings per share. Equities analysts anticipate that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the transaction, the chief financial officer now directly owns 306,391 shares in the company, valued at approximately $1,856,729.46. This represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.32% of the stock is owned by corporate insiders.

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.