Private Capital Advisors Inc. Acquires Shares of 100,000 Relay Therapeutics, Inc. (NASDAQ:RLAY)

Private Capital Advisors Inc. acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $262,000. Private Capital Advisors Inc. owned about 0.06% of Relay Therapeutics at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RLAY. Norges Bank purchased a new stake in shares of Relay Therapeutics in the 4th quarter valued at approximately $23,821,000. Tang Capital Management LLC boosted its holdings in shares of Relay Therapeutics by 126.1% in the 4th quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company’s stock valued at $33,240,000 after buying an additional 4,500,000 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Relay Therapeutics by 142.4% in the 4th quarter. Millennium Management LLC now owns 2,568,384 shares of the company’s stock valued at $10,582,000 after buying an additional 1,508,777 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Relay Therapeutics by 69.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company’s stock valued at $12,216,000 after buying an additional 1,216,334 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Relay Therapeutics by 130.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,549,190 shares of the company’s stock valued at $6,383,000 after buying an additional 878,095 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 61,379 shares of the firm’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $3.57, for a total value of $219,123.03. Following the completion of the sale, the chief executive officer owned 765,288 shares in the company, valued at approximately $2,732,078.16. This trade represents a 7.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 12,943 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total transaction of $38,829.00. Following the completion of the sale, the chief financial officer owned 355,376 shares of the company’s stock, valued at $1,066,128. This trade represents a 3.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,537 shares of company stock worth $485,444. Company insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Guggenheim lowered their target price on shares of Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company assumed coverage on shares of Relay Therapeutics in a report on Thursday, April 17th. They issued an “equal weight” rating and a $4.00 target price for the company. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.67.

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY opened at $3.60 on Monday. The stock has a market cap of $617.22 million, a P/E ratio of -1.61 and a beta of 1.62. The firm has a fifty day moving average price of $3.22 and a 200 day moving average price of $3.46. Relay Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. The business had revenue of $7.68 million for the quarter, compared to analyst estimates of $0.01 million. During the same quarter in the prior year, the company earned ($0.62) EPS. The firm’s revenue for the quarter was down 23.0% on a year-over-year basis. Sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Relay Therapeutics Company 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.