Putnam Investments LLC Sells 1,098 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Putnam Investments LLC lessened its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Rating) by 1.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 60,418 shares of the company’s stock after selling 1,098 shares during the quarter. Putnam Investments LLC’s holdings in Relay Therapeutics were worth $1,351,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RLAY. JPMorgan Chase & Co. increased its stake in Relay Therapeutics by 50.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,942,262 shares of the company’s stock worth $82,784,000 after buying an additional 1,667,873 shares during the period. State Street Corp increased its stake in Relay Therapeutics by 46.9% in the 2nd quarter. State Street Corp now owns 4,778,419 shares of the company’s stock worth $80,039,000 after buying an additional 1,524,727 shares during the period. Goldman Sachs Group Inc. increased its stake in Relay Therapeutics by 219.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 959,783 shares of the company’s stock worth $16,076,000 after buying an additional 659,012 shares during the period. EcoR1 Capital LLC increased its stake in Relay Therapeutics by 11.8% in the 3rd quarter. EcoR1 Capital LLC now owns 4,163,824 shares of the company’s stock worth $93,145,000 after buying an additional 440,283 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Relay Therapeutics by 6.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,300,307 shares of the company’s stock worth $88,780,000 after buying an additional 300,589 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JMP Securities reduced their price target on shares of Relay Therapeutics from $38.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 19th. Guggenheim cut their target price on shares of Relay Therapeutics from $45.00 to $28.00 in a research report on Thursday, March 9th. Oppenheimer assumed coverage on shares of Relay Therapeutics in a research report on Thursday, February 2nd. They set an “outperform” rating and a $33.00 target price on the stock. Finally, HC Wainwright raised their target price on shares of Relay Therapeutics from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, March 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Relay Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $31.63.

Relay Therapeutics Stock Up 4.4 %

Shares of Relay Therapeutics stock opened at $16.01 on Tuesday. The firm’s 50 day moving average price is $18.60 and its 200-day moving average price is $19.83. Relay Therapeutics, Inc. has a 52-week low of $12.65 and a 52-week high of $35.36. The company has a market cap of $1.94 billion, a P/E ratio of -6.16 and a beta of 1.32.

Relay Therapeutics (NASDAQ:RLAY – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.12. Relay Therapeutics had a negative net margin of 21,036.13% and a negative return on equity of 33.05%. The firm had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.18 million. During the same quarter in the previous year, the firm earned $0.36 EPS. The company’s quarterly revenue was down 55.4% compared to the same quarter last year. As a group, equities research analysts forecast that Relay Therapeutics, Inc. will post -3.01 EPS for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 28,000 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $20.87, for a total value of $584,360.00. Following the transaction, the chief executive officer now owns 254,554 shares of the company’s stock, valued at approximately $5,312,541.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Sanjiv Patel sold 28,000 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $20.87, for a total value of $584,360.00. Following the completion of the sale, the chief executive officer now directly owns 254,554 shares in the company, valued at approximately $5,312,541.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Adams sold 9,994 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $20.00, for a total transaction of $199,880.00. Following the completion of the sale, the insider now owns 51,531 shares of the company’s stock, valued at $1,030,620. The disclosure for this sale can be found here. Insiders have sold a total of 55,023 shares of company stock valued at $1,133,190 in the last 90 days. Insiders own 4.43% of the company’s stock.

Relay Therapeutics Profile

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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 RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors.