PDT Partners LLC Has $901,000 Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

PDT Partners LLC cut its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 43.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 127,272 shares of the company’s stock after selling 99,360 shares during the quarter. PDT Partners LLC owned 0.10% of Relay Therapeutics worth $901,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Relay Therapeutics in the second quarter valued at approximately $37,000. Virtu Financial LLC bought a new position in Relay Therapeutics in the first quarter valued at $87,000. Values First Advisors Inc. acquired a new stake in Relay Therapeutics in the 3rd quarter valued at $75,000. China Universal Asset Management Co. Ltd. lifted its position in Relay Therapeutics by 65.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 25,751 shares of the company’s stock worth $182,000 after buying an additional 10,157 shares in the last quarter. Finally, Valence8 US LP acquired a new position in shares of Relay Therapeutics during the 3rd quarter worth about $185,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analysts Set New Price Targets

RLAY has been the topic of a number of analyst reports. Bank of America upped their price objective on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lowered their price objective on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. Finally, Barclays lifted their price target on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.22.

Relay Therapeutics Trading Down 2.1 %

Shares of RLAY stock opened at $4.70 on Monday. The stock has a market cap of $786.70 million, a P/E ratio of -1.80 and a beta of 1.67. Relay Therapeutics, Inc. has a 1 year low of $4.48 and a 1 year high of $12.14. The stock has a 50 day simple moving average of $6.06 and a 200 day simple moving average of $6.86.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The company’s quarterly revenue was down 100.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.54) EPS. Analysts forecast that Relay Therapeutics, Inc. will post -2.61 EPS for the current year.

Insider Activity

In other news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the transaction, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. This trade represents a 2.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.