Franklin Resources Inc. Has $9.43 Million Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Franklin Resources Inc. boosted its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 3,883.8% during the third quarter, Holdings Channel reports. The fund owned 1,396,842 shares of the company’s stock after acquiring an additional 1,361,779 shares during the period. Franklin Resources Inc.’s holdings in Relay Therapeutics were worth $9,429,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC bought a new position in Relay Therapeutics in the third quarter valued at about $333,000. Barclays PLC raised its holdings in Relay Therapeutics by 118.4% in the third quarter. Barclays PLC now owns 251,819 shares of the company’s stock worth $1,783,000 after purchasing an additional 136,541 shares during the period. Geode Capital Management LLC lifted its holdings in Relay Therapeutics by 15.5% during the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after acquiring an additional 367,473 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Relay Therapeutics during the 3rd quarter valued at about $367,000. Finally, XTX Topco Ltd lifted its stake in Relay Therapeutics by 27.9% in the third quarter. XTX Topco Ltd now owns 47,271 shares of the company’s stock valued at $335,000 after buying an additional 10,311 shares in the last quarter. 96.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RLAY shares. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research report on Thursday, December 12th. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 price objective on shares of Relay Therapeutics in a research report on Monday, September 16th. Leerink Partners decreased their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. JPMorgan Chase & Co. decreased 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 note on Tuesday, September 10th. Finally, Barclays increased their price objective on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Relay Therapeutics Price Performance

Shares of RLAY opened at $4.16 on Friday. Relay Therapeutics, Inc. has a one year low of $4.11 and a one year high of $12.14. The company has a market cap of $696.31 million, a P/E ratio of -1.59 and a beta of 1.59. The firm has a 50 day simple moving average of $5.38 and a two-hundred day simple moving average of $6.62.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same quarter in the prior year, the company posted ($0.54) earnings per share. The business’s quarterly revenue was down 100.0% compared to the same quarter last year. On average, analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the sale, the chief executive officer now directly owns 574,548 shares of the company’s stock, valued at approximately $2,872,740. This represents a 14.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas Catinazzo sold 6,802 shares of the 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 108,423 shares of company stock worth $551,043. Insiders own 4.32% of the company’s stock.

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.