Aristides Capital LLC Buys Shares of 43,400 Relay Therapeutics, Inc. (NASDAQ:RLAY)

Aristides Capital LLC purchased a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 43,400 shares of the company’s stock, valued at approximately $179,000.

A number of other institutional investors have also modified their holdings of RLAY. Steward Partners Investment Advisory LLC grew its position in Relay Therapeutics by 160.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after acquiring an additional 4,000 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Relay Therapeutics in the fourth quarter valued at approximately $47,000. E Fund Management Co. Ltd. grew its holdings in shares of Relay Therapeutics by 52.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock valued at $73,000 after purchasing an additional 6,104 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Relay Therapeutics during the 3rd quarter worth approximately $134,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Relay Therapeutics during the 4th quarter worth approximately $102,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Trading Up 2.5 %

RLAY stock opened at $2.05 on Tuesday. The company’s 50 day moving average is $3.55 and its two-hundred day moving average is $4.73. Relay Therapeutics, Inc. has a twelve month low of $1.78 and a twelve month high of $10.72. The stock has a market cap of $347.52 million, a P/E ratio of -0.79 and a beta of 1.70.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. JMP Securities restated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Stifel Nicolaus lowered their target price 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. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. Finally, The Goldman Sachs Group lowered their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $19.80.

Insiders Place Their Bets

In related news, CEO Sanjiv Patel sold 125,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $4.80, for a total transaction of $600,000.00. Following the completion of the sale, the chief executive officer now directly owns 324,548 shares of the company’s stock, valued at $1,557,830.40. This trade represents a 27.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Catinazzo sold 36,036 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total transaction of $166,846.68. Following the completion of the transaction, the chief financial officer now directly owns 263,190 shares in the company, valued at $1,218,569.70. This represents a 12.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 421,418 shares of company stock valued at $1,775,793. 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.