California State Teachers Retirement System Has $438,000 Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

California State Teachers Retirement System raised its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,287 shares of the company’s stock after acquiring an additional 23,760 shares during the period. California State Teachers Retirement System’s holdings in Relay Therapeutics were worth $438,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Relay Therapeutics in the fourth quarter valued at approximately $779,000. Teacher Retirement System of Texas lifted its holdings in Relay Therapeutics by 19.5% during the 4th quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company’s stock worth $139,000 after purchasing an additional 5,492 shares in the last quarter. Norges Bank purchased a new stake in shares of Relay Therapeutics in the 4th quarter valued at about $23,821,000. Nuveen Asset Management LLC lifted its position in Relay Therapeutics by 137.5% in the 4th quarter. Nuveen Asset Management LLC now owns 653,428 shares of the company’s stock worth $2,692,000 after buying an additional 378,322 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Relay Therapeutics by 8.6% in the 4th quarter. Rhumbline Advisers now owns 171,444 shares of the company’s stock worth $706,000 after purchasing an additional 13,532 shares during the period. 96.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sanjiv Patel sold 61,422 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $2.97, for a total transaction of $182,423.34. Following the completion of the sale, the chief executive officer now directly owns 821,667 shares in the company, valued at $2,440,350.99. This trade represents a 6.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $38,829.00. Following the completion of the transaction, the chief financial officer now owns 355,376 shares of the company’s stock, valued at $1,066,128. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,320 shares of company stock valued at $280,981 in the last quarter. 4.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RLAY shares. Guggenheim dropped their price target on Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. Stifel Nicolaus cut their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group decreased their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company began coverage on Relay Therapeutics in a research report on Thursday, April 17th. They issued an “equal weight” rating and a $4.00 price target for the company. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

Relay Therapeutics Stock Performance

RLAY opened at $3.34 on Thursday. The stock has a market capitalization of $572.63 million, a P/E ratio of -1.28 and a beta of 1.59. Relay Therapeutics, Inc. has a one year low of $1.78 and a one year high of $10.72. The business’s 50-day simple moving average is $2.91 and its 200-day simple moving average is $3.65.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. The firm had revenue of $7.68 million during the quarter, compared to analyst estimates of $0.01 million. During the same quarter in the prior year, the company earned ($0.62) EPS. The business’s revenue was down 23.0% on a year-over-year basis. On average, equities research analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal 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.