JPMorgan Chase & Co. Has $20.51 Million Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

JPMorgan Chase & Co. reduced its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,978,443 shares of the company’s stock after selling 539,073 shares during the period. JPMorgan Chase & Co. owned 2.97% of Relay Therapeutics worth $20,511,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its position in Relay Therapeutics by 160.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after buying an additional 4,000 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Relay Therapeutics during the fourth quarter valued at approximately $47,000. E Fund Management Co. Ltd. raised its position in shares of Relay Therapeutics by 52.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock worth $73,000 after purchasing an additional 6,104 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Relay Therapeutics in the 4th quarter worth $102,000. Finally, Savant Capital LLC bought a new position in shares of Relay Therapeutics in the 4th quarter worth $120,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on RLAY shares. The Goldman Sachs Group dropped their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, Stifel Nicolaus lowered their price objective on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.80.

Relay Therapeutics Stock Down 3.5 %

RLAY stock opened at $2.22 on Friday. The firm has a market cap of $376.34 million, a PE ratio of -0.85 and a beta of 1.70. The business has a 50 day moving average of $3.31 and a 200-day moving average of $4.59. Relay Therapeutics, Inc. has a 12-month low of $1.78 and a 12-month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. On average, research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Peter Rahmer sold 17,250 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total value of $76,245.00. Following the sale, the insider now owns 402,431 shares of the company’s stock, valued at approximately $1,778,745.02. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjiv Patel sold 140,182 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $539,700.70. Following the transaction, the chief executive officer now directly owns 625,948 shares of the company’s stock, valued at approximately $2,409,899.80. This trade represents a 18.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 421,418 shares of company stock worth $1,775,793. 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.