Sio Capital Management LLC Acquires Shares of 945,839 Relay Therapeutics, Inc. (NASDAQ:RLAY)

Sio Capital Management LLC bought a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 945,839 shares of the company’s stock, valued at approximately $6,697,000. Relay Therapeutics comprises approximately 2.7% of Sio Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Sio Capital Management LLC owned 0.71% of Relay Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Relay Therapeutics by 10.9% during the first quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock valued at $98,070,000 after buying an additional 1,165,282 shares in the last quarter. Walleye Capital LLC raised its position in shares of Relay Therapeutics by 6,659.2% during the 3rd quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock valued at $12,885,000 after acquiring an additional 1,793,057 shares in the last quarter. Finepoint Capital LP lifted its stake in Relay Therapeutics by 1.3% during the third quarter. Finepoint Capital LP now owns 1,626,146 shares of the company’s stock worth $11,513,000 after purchasing an additional 20,800 shares during the last quarter. Logos Global Management LP acquired a new position in Relay Therapeutics in the second quarter worth $8,476,000. Finally, First Turn Management LLC bought a new stake in Relay Therapeutics during the third quarter valued at $8,683,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insider Activity

In other news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the transaction, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. This trade represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RLAY shares. Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. HC Wainwright increased their price target on Relay Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $21.22.

Relay Therapeutics Trading Up 0.8 %

Shares of RLAY opened at $4.80 on Friday. The firm has a 50-day moving average price of $6.12 and a 200 day moving average price of $6.87. Relay Therapeutics, Inc. has a 52-week low of $4.48 and a 52-week high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14. During the same quarter last year, the business earned ($0.54) earnings per share. The business’s quarterly revenue was down 100.0% on a year-over-year basis. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.61 EPS 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.