Algert Global LLC Acquires 36,389 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Algert Global LLC raised its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 513,277 shares of the company’s stock after buying an additional 36,389 shares during the quarter. Algert Global LLC’s holdings in Relay Therapeutics were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of RLAY. EverSource Wealth Advisors LLC purchased a new position in Relay Therapeutics during the second quarter valued at $37,000. Values First Advisors Inc. purchased a new position in shares of Relay Therapeutics during the third quarter valued at about $75,000. Virtu Financial LLC bought a new stake in shares of Relay Therapeutics in the first quarter worth about $87,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Relay Therapeutics by 65.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 25,751 shares of the company’s stock worth $182,000 after buying an additional 10,157 shares in the last quarter. Finally, Valence8 US LP bought a new position in Relay Therapeutics during the third quarter valued at approximately $185,000. Institutional investors own 96.98% of the company’s stock.

Analyst Upgrades and Downgrades

RLAY has been the topic of a number of research reports. HC Wainwright lifted their price objective on Relay Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their price target 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. Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.60 to $16.00 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 report on Tuesday, September 10th. Finally, Bank of America lifted their price target on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.22.

Insider Activity

In other news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the sale, the chief financial officer now owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.32% of the company’s stock.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY opened at $4.86 on Tuesday. Relay Therapeutics, Inc. has a 1 year low of $4.48 and a 1 year high of $12.14. The firm has a 50-day simple moving average of $6.29 and a two-hundred day simple moving average of $6.91. The company has a market cap of $813.47 million, a P/E ratio of -1.86 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The business’s revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.54) EPS. As a group, equities research analysts expect that Relay Therapeutics, Inc. will post -2.61 EPS for the current 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.