186,063 Shares in Relay Therapeutics, Inc. $RLAY Bought by CW Advisors LLC

CW Advisors LLC bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 186,063 shares of the company’s stock, valued at approximately $487,000.

Several other hedge funds have also modified their holdings of the stock. Tang Capital Management LLC grew its stake in shares of Relay Therapeutics by 126.1% during the fourth quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company’s stock valued at $33,240,000 after acquiring an additional 4,500,000 shares in the last quarter. Millennium Management LLC grew its stake in Relay Therapeutics by 142.4% during the 4th quarter. Millennium Management LLC now owns 2,568,384 shares of the company’s stock valued at $10,582,000 after purchasing an additional 1,508,777 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Relay Therapeutics by 69.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company’s stock valued at $12,216,000 after purchasing an additional 1,216,334 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Relay Therapeutics during the 4th quarter worth approximately $2,852,000. Finally, Boxer Capital Management LLC acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at approximately $2,209,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Performance

NASDAQ RLAY opened at $3.57 on Thursday. Relay Therapeutics, Inc. has a one year low of $1.77 and a one year high of $10.72. The company has a 50-day simple moving average of $3.51 and a 200-day simple moving average of $3.26. The firm has a market capitalization of $615.50 million, a PE ratio of -1.83 and a beta of 1.62.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.08. The company had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.07 million. Equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analysts Set New Price Targets

RLAY has been the subject of a number of recent analyst reports. Raymond James Financial decreased their price target on shares of Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating for the company in a research report on Friday, August 8th. HC Wainwright dropped their target price on shares of Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Guggenheim cut their target price on shares of Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $17.08.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 15,724 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total transaction of $57,864.32. Following the transaction, the insider owned 377,998 shares of the company’s stock, valued at approximately $1,391,032.64. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald A. Bergstrom sold 26,701 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total transaction of $98,259.68. Following the transaction, the insider owned 552,720 shares in the company, valued at $2,034,009.60. This represents a 4.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 149,226 shares of company stock valued at $542,926. 4.87% 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.