Private Capital Advisors Inc. Grows Position in Relay Therapeutics, Inc. $RLAY

Private Capital Advisors Inc. grew its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 341.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 441,739 shares of the company’s stock after acquiring an additional 341,739 shares during the quarter. Private Capital Advisors Inc. owned about 0.26% of Relay Therapeutics worth $1,528,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Relay Therapeutics by 181.2% during the second quarter. CWM LLC now owns 56,993 shares of the company’s stock valued at $197,000 after purchasing an additional 36,724 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Relay Therapeutics by 86.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,792 shares of the company’s stock valued at $89,000 after buying an additional 11,990 shares during the last quarter. 111 Capital bought a new position in Relay Therapeutics during the 2nd quarter worth approximately $86,000. Farther Finance Advisors LLC lifted its holdings in Relay Therapeutics by 8,553.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 16,702 shares of the company’s stock worth $58,000 after buying an additional 16,509 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Relay Therapeutics by 164.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 40,983 shares of the company’s stock worth $149,000 after buying an additional 25,511 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Stock Down 1.4%

Shares of Relay Therapeutics stock opened at $7.04 on Wednesday. The stock has a market cap of $1.21 billion, a PE ratio of -3.61 and a beta of 1.75. The business has a fifty day simple moving average of $4.67 and a 200-day simple moving average of $3.70. Relay Therapeutics, Inc. has a 12 month low of $1.77 and a 12 month high of $7.19.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, August 7th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.08. The business had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.07 million. Analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Peter Rahmer sold 15,724 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total value of $57,864.32. Following the completion of the sale, the insider owned 377,998 shares of the company’s stock, valued at $1,391,032.64. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas Catinazzo sold 18,380 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total value of $67,638.40. Following the sale, the chief financial officer owned 335,295 shares of the company’s stock, valued at approximately $1,233,885.60. This represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,847 shares of company stock worth $323,803. 4.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RLAY shares. HC Wainwright dropped their price target on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 26th. Guggenheim began coverage on Relay Therapeutics in a research report on Thursday, September 4th. They set a “buy” rating and a $15.00 price target on the stock. Raymond James Financial lowered their price target on Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

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.