Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Purchased by Finepoint Capital LP

Finepoint Capital LP boosted its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,626,146 shares of the company’s stock after purchasing an additional 20,800 shares during the period. Relay Therapeutics comprises approximately 0.8% of Finepoint Capital LP’s portfolio, making the stock its 14th largest position. Finepoint Capital LP owned 1.21% of Relay Therapeutics worth $11,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Relay Therapeutics in the second quarter valued at $37,000. Values First Advisors Inc. purchased a new position in Relay Therapeutics during the 3rd quarter valued at about $75,000. Virtu Financial LLC acquired a new position in Relay Therapeutics in the 1st quarter valued at about $87,000. China Universal Asset Management Co. Ltd. increased its stake in Relay Therapeutics by 65.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 25,751 shares of the company’s stock worth $182,000 after purchasing an additional 10,157 shares during the period. Finally, Valence8 US LP acquired a new stake in shares of Relay Therapeutics during the third quarter worth about $185,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RLAY shares. Stifel Nicolaus restated a “buy” rating and issued a $28.00 price objective on shares of Relay Therapeutics in a report on Monday, September 16th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.60 to $16.00 in a research note on Tuesday, September 10th. Oppenheimer cut Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Barclays boosted their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note 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 report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.22.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.32% of the company’s stock.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $4.97 on Tuesday. The stock has a market cap of $831.88 million, a PE ratio of -1.86 and a beta of 1.67. The stock’s fifty day moving average is $6.29 and its two-hundred day moving average is $6.91. Relay Therapeutics, Inc. has a 1-year low of $4.48 and a 1-year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The company’s quarterly revenue was down 100.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.54) earnings per share. On average, research analysts expect that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current fiscal 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.