Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Bought by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. raised its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 126.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,916 shares of the company’s stock after buying an additional 18,380 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Relay Therapeutics were worth $136,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Relay Therapeutics by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after purchasing an additional 214,398 shares in the last quarter. Maven Securities LTD acquired a new stake in shares of Relay Therapeutics during the third quarter worth about $2,389,000. Geode Capital Management LLC lifted its position in shares of Relay Therapeutics by 15.5% during the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after purchasing an additional 367,473 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after purchasing an additional 1,554,115 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Relay Therapeutics by 3,883.8% during the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after purchasing an additional 1,361,779 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 0.6 %

Shares of Relay Therapeutics stock opened at $3.46 on Monday. The firm has a market capitalization of $586.55 million, a P/E ratio of -1.33 and a beta of 1.65. Relay Therapeutics, Inc. has a 52 week low of $3.02 and a 52 week high of $10.72. The firm’s 50 day moving average is $4.19 and its two-hundred day moving average is $5.38.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on RLAY shares. JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. The Goldman Sachs Group reduced their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus cut their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a research note on Friday. Finally, Leerink Partners cut their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.80.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, 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 value of $500,000.00. Following the transaction, the chief executive officer now directly owns 574,548 shares in the company, valued at $2,872,740. This represents a 14.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter Rahmer sold 32,156 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total transaction of $133,447.40. Following the transaction, the insider now owns 357,507 shares in the company, valued at approximately $1,483,654.05. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 570,152 shares of company stock worth $2,491,157 over the last three months. 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.