AssuredPartners Investment Advisors LLC Takes Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

AssuredPartners Investment Advisors LLC acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,229 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RLAY. Steward Partners Investment Advisory LLC raised 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 buying an additional 4,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Relay Therapeutics in the first quarter valued at $41,000. Stifel Financial Corp purchased a new position in shares of Relay Therapeutics in the fourth quarter valued at $42,000. Twinbeech Capital LP purchased a new position in shares of Relay Therapeutics in the fourth quarter valued at $42,000. Finally, Cibc World Markets Corp purchased a new position in shares of Relay Therapeutics in the fourth quarter valued at $47,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Trading Down 1.5%

NASDAQ:RLAY opened at $3.26 on Thursday. Relay Therapeutics, Inc. has a twelve month low of $1.78 and a twelve month high of $10.72. The company has a market cap of $558.93 million, a price-to-earnings ratio of -1.46 and a beta of 1.59. The stock has a fifty day simple moving average of $3.10 and a 200-day simple moving average of $3.56.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Monday, May 5th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.04. The business had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. During the same quarter last year, the business posted ($0.62) earnings per share. The firm’s revenue for the quarter was down 23.0% compared to the same quarter last year. As a group, equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

RLAY has been the subject of a number of recent research reports. The Goldman Sachs Group cut 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. Wells Fargo & Company started coverage on shares of Relay Therapeutics in a research note on Thursday, April 17th. They set an “equal weight” rating and a $4.00 price objective for the company. Stifel Nicolaus dropped their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Guggenheim dropped their price objective on shares of Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.67.

Insider Transactions at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics stock in a transaction dated Wednesday, April 30th. The stock was 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 in the company, valued at $1,066,128. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Peter Rahmer sold 10,739 shares of Relay Therapeutics stock in a transaction dated Wednesday, April 30th. The shares were 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 owns 390,081 shares of the company’s stock, valued at $1,170,243. The trade was a 2.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,158 shares of company stock worth $266,321. 4.87% of the stock is currently owned by insiders.

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.