Walleye Capital LLC Trims Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Walleye Capital LLC lessened its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 49.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 927,137 shares of the company’s stock after selling 892,846 shares during the quarter. Walleye Capital LLC’s holdings in Relay Therapeutics were worth $3,820,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Relay Therapeutics by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company’s stock valued at $61,924,000 after buying an additional 566,595 shares during the period. Norges Bank bought a new position in shares of Relay Therapeutics in the 4th quarter worth about $23,821,000. JPMorgan Chase & Co. lifted its position in Relay Therapeutics by 39.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after acquiring an additional 1,554,115 shares during the period. State Street Corp lifted its position in Relay Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 4,300,216 shares of the company’s stock valued at $30,446,000 after acquiring an additional 51,810 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Relay Therapeutics by 10.9% during the fourth quarter. Geode Capital Management LLC now owns 3,030,157 shares of the company’s stock worth $12,487,000 after acquiring an additional 297,887 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Stock Performance

Relay Therapeutics stock opened at $2.61 on Thursday. The stock has a market cap of $442.45 million, a PE ratio of -1.00 and a beta of 1.70. The stock has a fifty day moving average of $3.16 and a 200 day moving average of $4.48. Relay Therapeutics, Inc. has a one year low of $1.78 and a one year high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.12. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity

In other news, CFO Thomas Catinazzo sold 36,036 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total value of $166,846.68. Following the transaction, the chief financial officer now owns 263,190 shares of the company’s stock, valued at $1,218,569.70. This trade represents a 12.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Rahmer sold 17,250 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $4.42, for a total transaction of $76,245.00. Following the completion of the sale, the insider now directly owns 402,431 shares of the company’s stock, valued at $1,778,745.02. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 421,418 shares of company stock valued at $1,775,793 in the last 90 days. Company insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

RLAY has been the subject of several recent research reports. The Goldman Sachs Group lowered their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research note on Friday, March 7th. Finally, Stifel Nicolaus cut their target price on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.80.

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.