Trexquant Investment LP Has $4.03 Million Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Trexquant Investment LP raised its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 137.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 978,137 shares of the company’s stock after buying an additional 566,275 shares during the quarter. Trexquant Investment LP’s holdings in Relay Therapeutics were worth $4,030,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its position in shares of Relay Therapeutics by 160.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 4,000 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Relay Therapeutics during the 4th quarter worth approximately $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Relay Therapeutics in the 3rd quarter valued at $63,000. E Fund Management Co. Ltd. lifted 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 acquiring an additional 6,104 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Relay Therapeutics during the fourth quarter worth $102,000. 96.98% of the stock is owned by institutional investors.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 36,036 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total transaction of $166,846.68. Following the completion of the sale, the chief financial officer now directly owns 263,190 shares of the company’s stock, valued at $1,218,569.70. This trade represents a 12.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjiv Patel sold 75,324 shares of Relay Therapeutics stock in a transaction on 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 owns 883,089 shares in the company, valued at $3,267,429.30. The trade was a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 437,994 shares of company stock valued at $1,849,557 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Relay Therapeutics Stock Down 12.7 %

Shares of NASDAQ:RLAY opened at $2.00 on Friday. The business’s 50 day moving average is $3.60 and its 200 day moving average is $4.79. Relay Therapeutics, Inc. has a 12-month low of $1.99 and a 12-month high of $10.72. The stock has a market cap of $339.04 million, a price-to-earnings ratio of -0.77 and a beta of 1.70.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. As a group, equities research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

RLAY has been the subject of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. The Goldman Sachs Group reduced their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

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.