Victory Capital Management Inc. Sells 58,639 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Victory Capital Management Inc. decreased its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 79.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,247 shares of the company’s stock after selling 58,639 shares during the quarter. Victory Capital Management Inc.’s holdings in Relay Therapeutics were worth $63,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Relay Therapeutics by 26.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after buying an additional 214,398 shares during the last quarter. Maven Securities LTD bought a new stake in Relay Therapeutics in the third quarter valued at approximately $2,389,000. Geode Capital Management LLC lifted its position in Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after purchasing an additional 367,473 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after purchasing an additional 1,554,115 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Relay Therapeutics by 3,883.8% in the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after purchasing an additional 1,361,779 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Performance

RLAY stock opened at $3.06 on Monday. The business’s 50-day moving average is $3.98 and its two-hundred day moving average is $5.13. Relay Therapeutics, Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $10.72. The company has a market cap of $518.74 million, a price-to-earnings ratio of -1.17 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.12. Equities analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Transactions at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $4.80, for a total value of $600,000.00. Following the transaction, the chief executive officer now owns 324,548 shares of the company’s stock, valued at $1,557,830.40. This trade represents a 27.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Rahmer sold 16,576 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following the completion of the transaction, the insider now directly owns 308,754 shares in the company, valued at $1,373,955.30. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 470,152 shares of company stock valued at $1,991,157 over the last quarter. 4.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on RLAY shares. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. Stifel Nicolaus reduced their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Leerink Partners cut their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group lowered their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.80.

Relay Therapeutics 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.