Congress Asset Management Co. Has $649,000 Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Congress Asset Management Co. raised its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,485 shares of the company’s stock after purchasing an additional 11,061 shares during the quarter. Congress Asset Management Co.’s holdings in Relay Therapeutics were worth $649,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RLAY. Rhumbline Advisers grew its holdings in shares of Relay Therapeutics by 8.6% during the fourth quarter. Rhumbline Advisers now owns 171,444 shares of the company’s stock valued at $706,000 after buying an additional 13,532 shares in the last quarter. Savant Capital LLC acquired a new stake in Relay Therapeutics during the 4th quarter worth about $120,000. China Universal Asset Management Co. Ltd. grew its stake in Relay Therapeutics by 37.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company’s stock valued at $146,000 after acquiring an additional 9,740 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Relay Therapeutics by 40.8% in the 4th quarter. SG Americas Securities LLC now owns 77,557 shares of the company’s stock valued at $320,000 after purchasing an additional 22,473 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after purchasing an additional 1,554,115 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief executive officer now directly owns 574,548 shares of the company’s stock, valued at approximately $2,872,740. This represents a 14.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Rahmer sold 32,156 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total transaction of $133,447.40. Following the completion of the transaction, the insider now owns 357,507 shares in the company, valued at $1,483,654.05. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 570,152 shares of company stock worth $2,491,157 over the last 90 days. Insiders own 4.32% of the company’s stock.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $3.92 on Wednesday. The business’s 50-day simple moving average is $4.42 and its 200-day simple moving average is $5.67. Relay Therapeutics, Inc. has a 52 week low of $3.50 and a 52 week high of $11.07. The firm has a market cap of $656.13 million, a price-to-earnings ratio of -1.50 and a beta of 1.61.

Wall Street Analysts Forecast Growth

RLAY has been the topic of several research reports. Leerink Partners dropped their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Relay Therapeutics Company 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.