JPMorgan Chase & Co. Reduces Stock Holdings in Relay Therapeutics, Inc. $RLAY

JPMorgan Chase & Co. lessened its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 11.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,338,403 shares of the company’s stock after selling 571,368 shares during the period. JPMorgan Chase & Co. owned approximately 2.52% of Relay Therapeutics worth $15,011,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Creative Planning increased its position in Relay Therapeutics by 214.1% during the second quarter. Creative Planning now owns 72,618 shares of the company’s stock valued at $251,000 after acquiring an additional 49,501 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Relay Therapeutics by 38.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 32,373 shares of the company’s stock valued at $112,000 after purchasing an additional 8,973 shares during the last quarter. Geode Capital Management LLC raised its position in Relay Therapeutics by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,229,666 shares of the company’s stock worth $11,176,000 after purchasing an additional 159,548 shares during the period. Quinn Opportunity Partners LLC bought a new stake in Relay Therapeutics in the second quarter worth about $35,000. Finally, Acadian Asset Management LLC lifted its stake in Relay Therapeutics by 16.5% in the second quarter. Acadian Asset Management LLC now owns 794,619 shares of the company’s stock worth $2,747,000 after purchasing an additional 112,591 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Stock Down 4.0%

RLAY opened at $7.68 on Friday. The stock’s fifty day moving average is $6.71 and its two-hundred day moving average is $4.68. The company has a market capitalization of $1.33 billion, a P/E ratio of -4.39 and a beta of 1.50. Relay Therapeutics, Inc. has a 52 week low of $1.77 and a 52 week high of $8.36.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). Equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Tuesday, October 14th. Wells Fargo & Company upped their price objective on Relay Therapeutics from $4.00 to $6.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. HC Wainwright decreased their target price on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, August 26th. Finally, Guggenheim started coverage on shares of Relay Therapeutics in a research note on Thursday, September 4th. They set a “buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $16.57.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 21,394 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $7.50, for a total transaction of $160,455.00. Following the transaction, the insider owned 337,469 shares of the company’s stock, valued at approximately $2,531,017.50. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald A. Bergstrom sold 30,897 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $7.29, for a total transaction of $225,239.13. Following the completion of the sale, the insider owned 521,823 shares of the company’s stock, valued at approximately $3,804,089.67. This represents a 5.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 155,163 shares of company stock valued at $1,117,630 in the last 90 days. Insiders own 4.87% of the company’s stock.

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.