Intellectus Partners LLC Sells 6,250 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Intellectus Partners LLC lowered its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,425 shares of the company’s stock after selling 6,250 shares during the period. Intellectus Partners LLC’s holdings in Relay Therapeutics were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Relay Therapeutics by 26.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after buying an additional 214,398 shares during the last quarter. Maven Securities LTD purchased a new position in shares of Relay Therapeutics during the third quarter worth approximately $2,389,000. Geode Capital Management LLC lifted its holdings in shares of Relay Therapeutics by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after acquiring an additional 367,473 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Relay Therapeutics by 39.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after purchasing an additional 1,554,115 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Relay Therapeutics by 3,883.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after purchasing an additional 1,361,779 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Performance

RLAY opened at $3.46 on Friday. The stock has a market capitalization of $586.55 million, a PE ratio of -1.33 and a beta of 1.65. The stock’s 50 day moving average price is $4.19 and its 200-day moving average price is $5.39. Relay Therapeutics, Inc. has a 52-week low of $3.02 and a 52-week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. Research analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

RLAY has been the topic of a number of analyst reports. Leerink Partners decreased their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. The Goldman Sachs Group decreased their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. Stifel Nicolaus reduced their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $19.80.

Insider Activity

In other news, CFO Thomas Catinazzo sold 36,036 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total value of $166,846.68. Following the completion of the transaction, the chief financial officer now owns 263,190 shares of the company’s stock, valued at approximately $1,218,569.70. This represents a 12.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the sale, the chief executive officer now owns 574,548 shares in the company, valued at $2,872,740. This represents a 14.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 570,152 shares of company stock valued at $2,491,157. Corporate insiders own 4.32% of the company’s stock.

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.