Schonfeld Strategic Advisors LLC Takes $1.46 Million Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Schonfeld Strategic Advisors LLC acquired a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 354,500 shares of the company’s stock, valued at approximately $1,461,000. Schonfeld Strategic Advisors LLC owned approximately 0.21% of Relay Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RLAY. Vanguard Group Inc. boosted its position in shares of Relay Therapeutics by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company’s stock valued at $61,924,000 after acquiring an additional 566,595 shares during the period. Norges Bank bought a new position in Relay Therapeutics in the 4th quarter valued at $23,821,000. Geode Capital Management LLC grew its position in shares of Relay Therapeutics by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 3,030,157 shares of the company’s stock valued at $12,487,000 after purchasing an additional 297,887 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Relay Therapeutics by 69.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company’s stock worth $12,216,000 after purchasing an additional 1,216,334 shares during the period. Finally, Finepoint Capital LP raised its position in shares of Relay Therapeutics by 33.8% in the fourth quarter. Finepoint Capital LP now owns 2,175,646 shares of the company’s stock worth $8,964,000 after buying an additional 549,500 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Trading Down 5.1 %

RLAY stock opened at $3.15 on Wednesday. The stock has a market capitalization of $537.04 million, a price-to-earnings ratio of -1.21 and a beta of 1.65. The firm’s 50-day moving average price is $2.94 and its two-hundred day moving average price is $4.12. Relay Therapeutics, Inc. has a 12-month low of $1.78 and a 12-month high of $10.72.

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

Analyst Ratings Changes

A number of brokerages have weighed in on RLAY. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. The Goldman Sachs Group lowered their target price on shares of 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 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 report on Thursday, February 27th. Finally, 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 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.36.

Insider Buying and Selling

In other Relay Therapeutics news, CEO Sanjiv Patel sold 140,182 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $539,700.70. Following the transaction, the chief executive officer now owns 625,948 shares in the company, valued at approximately $2,409,899.80. This represents a 18.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider now directly owns 390,081 shares of the company’s stock, valued at $1,170,243. This represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 309,826 shares of company stock valued at $1,099,380 over the last quarter. 4.32% of the stock is owned by company insiders.

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.