Northern Trust Corp Raises Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Northern Trust Corp boosted its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 24.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,169,979 shares of the company’s stock after acquiring an additional 231,713 shares during the quarter. Northern Trust Corp’s holdings in Relay Therapeutics were worth $4,820,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RLAY. The Manufacturers Life Insurance Company increased its position in shares of Relay Therapeutics by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company’s stock valued at $902,000 after acquiring an additional 3,325 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of Relay Therapeutics by 7.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 86,357 shares of the company’s stock worth $356,000 after purchasing an additional 5,674 shares during the last quarter. Boothbay Fund Management LLC increased its holdings in Relay Therapeutics by 2.7% during the 4th quarter. Boothbay Fund Management LLC now owns 214,399 shares of the company’s stock valued at $883,000 after purchasing an additional 5,691 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Relay Therapeutics during the 4th quarter valued at about $1,427,000. Finally, Virtus ETF Advisers LLC raised its position in Relay Therapeutics by 26.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company’s stock valued at $61,000 after purchasing an additional 3,092 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 61,422 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $2.97, for a total value of $182,423.34. Following the sale, the chief executive officer now owns 821,667 shares in the company, valued at approximately $2,440,350.99. This represents a 6.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 12,943 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $38,829.00. Following the transaction, the chief financial officer now directly owns 355,376 shares of the company’s stock, valued at $1,066,128. This represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,320 shares of company stock valued at $280,981 in the last three months. Company insiders own 4.87% of the company’s stock.

Relay Therapeutics Stock Down 6.2%

Shares of RLAY stock opened at $2.86 on Thursday. The business’s fifty day moving average is $2.83 and its 200 day moving average is $3.89. The stock has a market cap of $490.33 million, a price-to-earnings ratio of -1.10 and a beta of 1.65. Relay Therapeutics, Inc. has a twelve month low of $1.78 and a twelve month high of $10.72.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RLAY shares. Wells Fargo & Company initiated coverage on Relay Therapeutics in a research report on Thursday, April 17th. They issued an “equal weight” rating and a $4.00 price objective on the stock. The Goldman Sachs Group dropped their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. Guggenheim decreased their price objective 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. Finally, Stifel Nicolaus dropped their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Two 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, Relay Therapeutics has an average rating of “Moderate Buy” and an average price target of $17.67.

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.