Relay Therapeutics, Inc. (NASDAQ:RLAY) Position Raised by Congress Asset Management Co.

Congress Asset Management Co. lifted its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 7.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 157,485 shares of the company’s stock after acquiring an additional 11,061 shares during the period. Congress Asset Management Co. owned 0.09% of Relay Therapeutics worth $649,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Relay Therapeutics in the 3rd quarter worth about $63,000. Portland Investment Counsel Inc. acquired a new position in shares of Relay Therapeutics during the third quarter worth approximately $71,000. Values First Advisors Inc. bought a new position in Relay Therapeutics in the 3rd quarter worth approximately $75,000. Point72 DIFC Ltd acquired a new stake in Relay Therapeutics in the 3rd quarter valued at approximately $134,000. Finally, Erste Asset Management GmbH bought a new stake in Relay Therapeutics during the 3rd quarter valued at $172,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Trading Down 2.0 %

NASDAQ:RLAY opened at $3.92 on Wednesday. The company has a 50-day moving average of $4.42 and a 200-day moving average of $5.67. The firm has a market cap of $656.13 million, a price-to-earnings ratio of -1.50 and a beta of 1.61. Relay Therapeutics, Inc. has a twelve month low of $3.50 and a twelve month high of $11.07.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RLAY. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Finally, Leerink Partners dropped 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 report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 75,324 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $3.70, for a total value of $278,698.80. Following the transaction, the chief executive officer now owns 883,089 shares of the company’s stock, valued at approximately $3,267,429.30. This represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Rahmer sold 32,156 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 357,507 shares of the company’s stock, valued at approximately $1,483,654.05. This represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 570,152 shares of company stock valued at $2,491,157 over the last ninety days. Insiders own 4.32% of the company’s stock.

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.