Cubist Systematic Strategies LLC Has $1.31 Million Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Cubist Systematic Strategies LLC trimmed its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 317,211 shares of the company’s stock after selling 42,121 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.19% of Relay Therapeutics worth $1,307,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Relay Therapeutics in the fourth quarter valued at $779,000. Teacher Retirement System of Texas increased its holdings in Relay Therapeutics by 19.5% in the fourth quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company’s stock valued at $139,000 after purchasing an additional 5,492 shares during the period. Norges Bank acquired a new stake in Relay Therapeutics in the fourth quarter valued at $23,821,000. Rhumbline Advisers lifted its stake in shares of Relay Therapeutics by 8.6% in the fourth quarter. Rhumbline Advisers now owns 171,444 shares of the company’s stock worth $706,000 after acquiring an additional 13,532 shares during the period. Finally, Vanguard Group Inc. lifted its stake 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 worth $61,924,000 after acquiring an additional 566,595 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RLAY. Guggenheim cut their price objective on Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. The Goldman Sachs Group cut their price objective 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 cut 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. Wells Fargo & Company began 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research note on Friday, March 7th. Two 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

Relay Therapeutics Price Performance

RLAY stock opened at $2.83 on Wednesday. The stock has a market capitalization of $485.19 million, a PE ratio of -1.08 and a beta of 1.65. Relay Therapeutics, Inc. has a 1 year low of $1.78 and a 1 year high of $10.72. The company’s 50-day moving average is $2.90 and its 200-day moving average is $4.00.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.04. The firm had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. During the same quarter in the prior year, the firm earned ($0.62) EPS. The company’s revenue was down 23.0% compared to the same quarter last year. On average, analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Relay Therapeutics news, insider Peter Rahmer sold 10,739 shares of the company’s stock in a transaction 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 owns 390,081 shares in the company, valued at $1,170,243. This represents a 2.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjiv Patel sold 75,324 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $3.70, for a total value of $278,698.80. Following the completion of the transaction, the chief executive officer now owns 883,089 shares of the company’s stock, valued at $3,267,429.30. This trade represents a 7.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,644 shares of company stock worth $559,679. 4.87% of the stock is owned by corporate 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.