Bayesian Capital Management LP Makes New $320,000 Investment in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Bayesian Capital Management LP bought a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 1st quarter, Holdings Channel.com reports. The fund bought 38,600 shares of the company’s stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RLAY. Allspring Global Investments Holdings LLC bought a new stake in shares of Relay Therapeutics in the 1st quarter worth about $79,000. Los Angeles Capital Management LLC increased its position in shares of Relay Therapeutics by 25.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after purchasing an additional 2,850 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Relay Therapeutics in the 4th quarter worth about $126,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Relay Therapeutics in the 1st quarter worth about $127,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of Relay Therapeutics in the 1st quarter worth about $146,000. Institutional investors own 96.98% of the company’s stock.

Insider Transactions at Relay Therapeutics

In other news, insider Peter Rahmer sold 20,450 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $7.06, for a total value of $144,377.00. Following the completion of the sale, the insider now directly owns 432,425 shares of the company’s stock, valued at approximately $3,052,920.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Peter Rahmer sold 20,450 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $7.06, for a total value of $144,377.00. Following the completion of the sale, the insider now directly owns 432,425 shares of the company’s stock, valued at approximately $3,052,920.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjiv Patel sold 36,706 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.07, for a total transaction of $332,923.42. Following the completion of the sale, the chief executive officer now directly owns 766,130 shares of the company’s stock, valued at $6,948,799.10. The disclosure for this sale can be found here. In the last three months, insiders sold 125,052 shares of company stock valued at $988,396. Company insiders own 4.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RLAY shares. Barclays lowered their price objective on shares of Relay Therapeutics from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. JMP Securities lowered their price objective on shares of Relay Therapeutics from $24.00 to $21.00 and set a “market outperform” rating for the company in a research report on Thursday, July 18th. HC Wainwright lowered their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price objective (down previously from $33.00) on shares of Relay Therapeutics in a research report on Monday, May 6th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $21.60.

Relay Therapeutics Stock Down 0.6 %

Relay Therapeutics stock opened at $8.22 on Thursday. The firm has a 50-day moving average price of $7.39 and a two-hundred day moving average price of $8.02. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -3.11 and a beta of 1.66. Relay Therapeutics, Inc. has a 52-week low of $5.70 and a 52-week high of $12.63.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.08. The firm had revenue of $10.01 million for the quarter, compared to analyst estimates of $0.12 million. The company’s revenue for the quarter was up 4327.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.78) earnings per share. Research analysts expect that Relay Therapeutics, Inc. will post -2.81 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.