E Fund Management Co. Ltd. Boosts Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

E Fund Management Co. Ltd. lifted its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 52.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,654 shares of the company’s stock after purchasing an additional 6,104 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Relay Therapeutics were worth $73,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in Relay Therapeutics by 33.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 160,458 shares of the company’s stock valued at $1,137,000 after purchasing an additional 40,447 shares during the last quarter. First Turn Management LLC acquired a new position in Relay Therapeutics in the third quarter valued at approximately $8,683,000. Intech Investment Management LLC purchased a new position in shares of Relay Therapeutics during the 3rd quarter worth $256,000. Charles Schwab Investment Management Inc. lifted its position in Relay Therapeutics by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock valued at $7,333,000 after buying an additional 214,398 shares during the last quarter. Finally, Valence8 US LP purchased a new position in shares of Relay Therapeutics during the 3rd quarter worth approximately $185,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Relay Therapeutics

In related news, insider Peter Rahmer sold 32,156 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the transaction, the insider now directly owns 357,507 shares of the company’s stock, valued at $1,483,654.05. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas Catinazzo sold 36,036 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total transaction of $166,846.68. Following the completion of the transaction, the chief financial officer now owns 263,190 shares in the company, valued at $1,218,569.70. This represents a 12.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 570,152 shares of company stock worth $2,491,157 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Relay Therapeutics Stock Performance

RLAY stock opened at $3.46 on Monday. Relay Therapeutics, Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $10.72. The company’s 50 day moving average price is $4.19 and its 200 day moving average price is $5.38. The firm has a market capitalization of $586.55 million, a price-to-earnings ratio of -1.33 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. Equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Leerink Partners cut their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus lowered their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a research note on Friday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

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.