NEOS Investment Management LLC Buys 6,365 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

NEOS Investment Management LLC lifted its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,655 shares of the company’s stock after buying an additional 6,365 shares during the quarter. NEOS Investment Management LLC’s holdings in Relay Therapeutics were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Relay Therapeutics by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company’s stock valued at $61,924,000 after buying an additional 566,595 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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 acquiring an additional 1,554,115 shares in the last quarter. State Street Corp grew its holdings in Relay Therapeutics by 1.2% in the third quarter. State Street Corp now owns 4,300,216 shares of the company’s stock worth $30,446,000 after purchasing an additional 51,810 shares during the period. Geode Capital Management LLC increased its stake 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 valued at $19,348,000 after purchasing an additional 367,473 shares in the last quarter. Finally, Candriam S.C.A. lifted its holdings in shares of Relay Therapeutics by 58.2% during the fourth quarter. Candriam S.C.A. now owns 1,729,199 shares of the company’s stock valued at $7,124,000 after purchasing an additional 636,494 shares during the last quarter. 96.98% of the stock is owned by institutional investors.

Relay Therapeutics Trading Down 3.7 %

Shares of RLAY stock opened at $2.62 on Tuesday. Relay Therapeutics, Inc. has a 12-month low of $2.45 and a 12-month high of $10.72. The stock has a market capitalization of $444.15 million, a P/E ratio of -1.00 and a beta of 1.65. The firm’s 50 day moving average is $3.80 and its 200 day moving average is $4.93.

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

Insider Activity

In other news, insider Peter Rahmer sold 32,156 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the sale, the insider now directly owns 357,507 shares in the company, valued at $1,483,654.05. This represents a 8.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock in a transaction 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 transaction, the chief financial officer now owns 263,190 shares in the company, valued at $1,218,569.70. This trade represents a 12.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 470,150 shares of company stock valued at $1,983,004 in the last quarter. 4.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RLAY. The Goldman Sachs Group cut their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus reduced their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Leerink Partners cut their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $19.80.

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.