43,400 Shares in Relay Therapeutics, Inc. (NASDAQ:RLAY) Bought by Aristides Capital LLC

Aristides Capital LLC bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 43,400 shares of the company’s stock, valued at approximately $179,000.

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

Insider Buying and Selling

In other news, CEO Sanjiv Patel sold 125,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $4.80, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now directly owns 324,548 shares in the company, valued at $1,557,830.40. This represents a 27.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas Catinazzo sold 36,036 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total transaction of $166,846.68. Following the completion of the sale, the chief financial officer now owns 263,190 shares of the company’s stock, valued at approximately $1,218,569.70. The trade was a 12.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 421,418 shares of company stock worth $1,775,793. 4.32% of the stock is owned by company insiders.

Relay Therapeutics Price Performance

NASDAQ:RLAY opened at $2.05 on Tuesday. Relay Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $10.72. The firm has a 50 day simple moving average of $3.55 and a 200-day simple moving average of $4.73. The firm has a market cap of $347.52 million, a PE ratio of -0.79 and a beta of 1.70.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Relay Therapeutics Company 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.