Relay Therapeutics, Inc. (NASDAQ:RLAY) Stake Lessened by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. trimmed its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,486 shares of the company’s stock after selling 1,917 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Relay Therapeutics were worth $193,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RLAY. SG Americas Securities LLC acquired a new position in Relay Therapeutics in the third quarter worth about $323,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Relay Therapeutics by 37.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,165 shares of the company’s stock valued at $161,000 after acquiring an additional 5,222 shares in the last quarter. TD Asset Management Inc raised its position in shares of Relay Therapeutics by 88.8% during the 3rd quarter. TD Asset Management Inc now owns 497,490 shares of the company’s stock valued at $4,184,000 after acquiring an additional 233,983 shares in the last quarter. M&T Bank Corp lifted its stake in Relay Therapeutics by 46.7% during the third quarter. M&T Bank Corp now owns 46,013 shares of the company’s stock worth $387,000 after purchasing an additional 14,645 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Relay Therapeutics by 17.4% in the third quarter. Principal Financial Group Inc. now owns 30,464 shares of the company’s stock worth $256,000 after purchasing an additional 4,507 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RLAY shares. Stifel Nicolaus raised their price target on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Leerink Partnrs reissued an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 target price (down from $33.00) on shares of Relay Therapeutics in a report on Monday. Barclays raised Relay Therapeutics from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Friday. Finally, JMP Securities restated a “market outperform” rating and set a $24.00 price objective on shares of Relay Therapeutics in a research note on Monday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Relay Therapeutics currently has an average rating of “Buy” and a consensus price target of $22.20.

Relay Therapeutics Price Performance

RLAY opened at $6.70 on Friday. Relay Therapeutics, Inc. has a 12 month low of $5.70 and a 12 month high of $13.32. The stock’s 50 day moving average price is $7.66 and its 200 day moving average price is $8.79. The stock has a market cap of $889.36 million, a P/E ratio of -2.39 and a beta of 1.68.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.08. The business had revenue of $10.01 million for the quarter, compared to analysts’ expectations of $0.12 million. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.66%. The company’s revenue was up 4327.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.78) earnings per share. Equities analysts anticipate that Relay Therapeutics, Inc. will post -2.84 EPS for the current year.

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.