Raymond James Financial Services Advisors Inc. Decreases Stock Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Raymond James Financial Services Advisors Inc. cut its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,353 shares of the company’s stock after selling 1,681 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Relay Therapeutics were worth $642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RLAY. Price T Rowe Associates Inc. MD boosted its position in shares of Relay Therapeutics by 52.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,862,960 shares of the company’s stock worth $113,034,000 after buying an additional 2,369,956 shares in the last quarter. Morgan Stanley lifted its holdings in Relay Therapeutics by 592.1% in the 4th quarter. Morgan Stanley now owns 2,369,344 shares of the company’s stock valued at $35,398,000 after purchasing an additional 2,027,003 shares in the last quarter. Norges Bank purchased a new position in Relay Therapeutics in the 4th quarter valued at about $26,718,000. State Street Corp lifted its holdings in Relay Therapeutics by 46.9% in the 2nd quarter. State Street Corp now owns 4,778,419 shares of the company’s stock valued at $80,039,000 after purchasing an additional 1,524,727 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Relay Therapeutics by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,359,520 shares of the company’s stock valued at $187,003,000 after purchasing an additional 1,261,066 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on RLAY. Stifel Nicolaus upped their target price on shares of Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Leerink Partnrs restated an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.69.

Relay Therapeutics Price Performance

NASDAQ RLAY opened at $6.21 on Thursday. Relay Therapeutics, Inc. has a 12 month low of $5.95 and a 12 month high of $18.00. The company has a 50-day moving average of $8.74 and a 200-day moving average of $8.94. The company has a market cap of $814.63 million, a P/E ratio of -2.22 and a beta of 1.63.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.09. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.43%. During the same quarter in the prior year, the company posted ($0.56) earnings per share. As a group, equities research analysts anticipate that Relay Therapeutics, Inc. will post -2.84 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.