TrueMark Investments LLC Cuts Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

TrueMark Investments LLC cut its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 7.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,400 shares of the company’s stock after selling 4,604 shares during the period. TrueMark Investments LLC’s holdings in Relay Therapeutics were worth $228,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its position in Relay Therapeutics by 33.7% during the third quarter. Thrivent Financial for Lutherans now owns 160,458 shares of the company’s stock worth $1,137,000 after purchasing an additional 40,447 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Relay Therapeutics in the 3rd quarter valued at $256,000. Charles Schwab Investment Management Inc. grew its position in shares of Relay Therapeutics by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock valued at $7,333,000 after purchasing an additional 214,398 shares during the period. FMR LLC grew its position in shares of Relay Therapeutics by 27.4% in the third quarter. FMR LLC now owns 89,772 shares of the company’s stock valued at $636,000 after purchasing an additional 19,296 shares during the period. Finally, Ally Bridge Group NY LLC purchased a new stake in shares of Relay Therapeutics during the third quarter worth about $4,432,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RLAY has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. Leerink Partners lowered their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus reduced their price objective on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group dropped 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. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Relay Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $19.80.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 36,036 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total transaction of $166,846.68. Following the sale, the chief financial officer now owns 263,190 shares in the company, valued at $1,218,569.70. This represents a 12.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjiv Patel sold 75,324 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $3.70, for a total transaction of $278,698.80. Following the sale, the chief executive officer now owns 883,089 shares in the company, valued at $3,267,429.30. The trade was a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 470,152 shares of company stock worth $1,991,157. Insiders own 4.32% of the company’s stock.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $2.86 on Thursday. The firm’s 50-day moving average is $3.90 and its two-hundred day moving average is $5.07. Relay Therapeutics, Inc. has a 12 month low of $2.85 and a 12 month high of $10.72. The company has a market capitalization of $484.83 million, a PE ratio of -1.10 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. Sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

About Relay Therapeutics

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.