Maven Securities LTD Makes New Investment in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Maven Securities LTD bought a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 337,426 shares of the company’s stock, valued at approximately $2,389,000. Maven Securities LTD owned approximately 0.25% of Relay Therapeutics at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RLAY. Eventide Asset Management LLC purchased a new position in shares of Relay Therapeutics during the 3rd quarter worth about $18,989,000. Walleye Capital LLC raised its position in shares of Relay Therapeutics by 6,659.2% in the 3rd quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock worth $12,885,000 after acquiring an additional 1,793,057 shares in the last quarter. Logos Global Management LP bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at about $8,476,000. First Turn Management LLC bought a new position in shares of Relay Therapeutics during the 3rd quarter worth approximately $8,683,000. Finally, Bellevue Group AG lifted its holdings in shares of Relay Therapeutics by 15.7% during the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock valued at $52,230,000 after purchasing an additional 1,000,069 shares during the last quarter. 96.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. 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. JPMorgan Chase & Co. decreased their price target on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. HC Wainwright raised their target price on Relay Therapeutics from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Bank of America increased their target price on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, JMP Securities restated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.22.

Insider Buying and Selling at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.32% of the company’s stock.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $4.39 on Wednesday. The company’s 50-day simple moving average is $5.95 and its 200-day simple moving average is $6.83. Relay Therapeutics, Inc. has a 1 year low of $4.37 and a 1 year high of $12.14. The stock has a market capitalization of $734.80 million, a PE ratio of -1.68 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current 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.