BIT Capital GmbH Acquires New Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

BIT Capital GmbH bought a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 284,508 shares of the company’s stock, valued at approximately $1,172,000. BIT Capital GmbH owned 0.17% of Relay Therapeutics at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its holdings in shares of Relay Therapeutics by 160.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock worth $27,000 after acquiring an additional 4,000 shares during the period. Cibc World Markets Corp purchased a new position in Relay Therapeutics in the fourth quarter worth about $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Relay Therapeutics during the 3rd quarter valued at about $63,000. Portland Investment Counsel Inc. purchased a new stake in shares of Relay Therapeutics during the 3rd quarter valued at about $71,000. Finally, E Fund Management Co. Ltd. increased its position in shares of Relay Therapeutics by 52.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock valued at $73,000 after purchasing an additional 6,104 shares during the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 75,324 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $3.70, for a total value of $278,698.80. Following the sale, the chief executive officer now directly owns 883,089 shares in the company, valued at approximately $3,267,429.30. The trade was a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 36,036 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total value of $166,846.68. Following the transaction, the chief financial officer now owns 263,190 shares of the company’s stock, valued at $1,218,569.70. This represents a 12.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 470,152 shares of company stock worth $1,991,157. 4.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RLAY shares. 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 research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. Leerink Partners decreased their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, Stifel Nicolaus reduced their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.80.

Relay Therapeutics Trading Down 3.4 %

NASDAQ:RLAY opened at $2.86 on Thursday. The stock has a 50-day moving average price of $3.90 and a 200 day moving average price of $5.07. The stock has a market capitalization of $484.83 million, a P/E ratio of -1.10 and a beta of 1.65. Relay Therapeutics, Inc. has a 12-month low of $2.85 and a 12-month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.12. On average, research analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal 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.