Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Bought by Candriam S.C.A.

Candriam S.C.A. lifted its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 58.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,729,199 shares of the company’s stock after purchasing an additional 636,494 shares during the quarter. Candriam S.C.A.’s holdings in Relay Therapeutics were worth $7,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RLAY. Steward Partners Investment Advisory LLC lifted its position in Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 4,000 shares during the period. Arizona State Retirement System increased its holdings in Relay Therapeutics by 30.0% in the fourth quarter. Arizona State Retirement System now owns 32,737 shares of the company’s stock valued at $135,000 after buying an additional 7,547 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Relay Therapeutics during the third quarter worth about $63,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Relay Therapeutics by 37.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company’s stock worth $146,000 after purchasing an additional 9,740 shares in the last quarter. Finally, Portland Investment Counsel Inc. purchased a new stake in shares of Relay Therapeutics during the third quarter worth about $71,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 36,036 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total value of $166,846.68. Following the sale, the chief financial officer now directly owns 263,190 shares of the company’s stock, valued at approximately $1,218,569.70. This represents a 12.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sanjiv Patel sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. This represents a 14.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 570,152 shares of company stock valued at $2,491,157 in the last ninety days. Company insiders own 4.32% of the company’s stock.

Relay Therapeutics Stock Down 0.6 %

Shares of RLAY opened at $3.46 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $10.72. The firm’s 50 day moving average price is $4.19 and its 200 day moving average price is $5.41. The company has a market cap of $586.55 million, a P/E ratio of -1.33 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results 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. Research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

RLAY has been the subject of a number of research reports. Leerink Partners cut their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. The Goldman Sachs Group cut their target price on shares of 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 target price on shares of Relay Therapeutics in a research note on Friday. Stifel Nicolaus lowered their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, JMP Securities restated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.80.

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.