Sherbrooke Park Advisers LLC Trims Stock Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Sherbrooke Park Advisers LLC lessened its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 26.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 28,959 shares of the company’s stock after selling 10,532 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Relay Therapeutics were worth $119,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in shares of 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 acquiring an additional 4,000 shares during the last quarter. Stifel Financial Corp purchased a new position in Relay Therapeutics during the 4th quarter valued at about $42,000. Cibc World Markets Corp purchased a new position in Relay Therapeutics during the 4th quarter valued at about $47,000. Summit Investment Advisors Inc. boosted its holdings in Relay Therapeutics by 41.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company’s stock valued at $52,000 after acquiring an additional 3,760 shares during the period. Finally, Virtus ETF Advisers LLC boosted its holdings in Relay Therapeutics by 26.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company’s stock valued at $61,000 after acquiring an additional 3,092 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RLAY. The Goldman Sachs Group lowered their target price on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company assumed coverage on Relay Therapeutics in a research note on Thursday, April 17th. They issued an “equal weight” rating and a $4.00 price objective on the stock. Stifel Nicolaus reduced their price objective on 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 reiterated a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research note on Friday, March 7th. Finally, Guggenheim dropped their price objective on shares of Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

Insider Activity at Relay Therapeutics

In other news, insider Peter Rahmer sold 10,739 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $32,217.00. Following the completion of the sale, the insider now directly owns 390,081 shares of the company’s stock, valued at approximately $1,170,243. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 12,943 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total value of $38,829.00. Following the completion of the sale, the chief financial officer now directly owns 355,376 shares of the company’s stock, valued at $1,066,128. The trade was a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,320 shares of company stock valued at $280,981 in the last ninety days. Insiders own 4.87% of the company’s stock.

Relay Therapeutics Price Performance

NASDAQ RLAY opened at $2.86 on Thursday. The firm’s fifty day moving average price is $2.83 and its 200 day moving average price is $3.89. The company has a market capitalization of $490.33 million, a price-to-earnings ratio of -1.10 and a beta of 1.65. Relay Therapeutics, Inc. has a 12 month low of $1.78 and a 12 month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Monday, May 5th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. The company had revenue of $7.68 million during the quarter, compared to analysts’ expectations of $0.01 million. The company’s quarterly revenue was down 23.0% on a year-over-year basis. During the same period last year, the business earned ($0.62) earnings per share. As a group, sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share 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.