Virtu Financial LLC Takes $333,000 Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Virtu Financial LLC bought a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the third quarter, HoldingsChannel reports. The institutional investor bought 47,010 shares of the company’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new position in Relay Therapeutics in the 2nd quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Relay Therapeutics in the third quarter valued at approximately $63,000. Portland Investment Counsel Inc. acquired a new position in shares of Relay Therapeutics in the third quarter valued at approximately $71,000. Values First Advisors Inc. bought a new position in shares of Relay Therapeutics during the third quarter worth approximately $75,000. Finally, Point72 DIFC Ltd acquired a new stake in Relay Therapeutics during the 3rd quarter worth approximately $134,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Trading Up 2.8 %

NASDAQ RLAY opened at $4.84 on Tuesday. The firm’s 50 day simple moving average is $5.56 and its 200 day simple moving average is $6.69. The firm has a market capitalization of $810.12 million, a price-to-earnings ratio of -1.85 and a beta of 1.59. Relay Therapeutics, Inc. has a 1 year low of $4.25 and a 1 year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.14. During the same period in the prior year, the firm earned ($0.54) EPS. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. On average, equities research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on RLAY. Bank of America upped their price objective on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. lowered their price target on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 price objective on shares of Relay Therapeutics in a report on Monday, September 16th. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, HC Wainwright dropped their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

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.