Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Purchased by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lifted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 126.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,916 shares of the company’s stock after purchasing an additional 18,380 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Relay Therapeutics were worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in RLAY. Thrivent Financial for Lutherans lifted its stake in shares of Relay Therapeutics by 33.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 160,458 shares of the company’s stock valued at $1,137,000 after purchasing an additional 40,447 shares during the period. First Turn Management LLC acquired a new position in shares of Relay Therapeutics in the 3rd quarter valued at $8,683,000. Intech Investment Management LLC acquired a new position in shares of Relay Therapeutics in the 3rd quarter valued at $256,000. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $7,333,000 after purchasing an additional 214,398 shares during the period. Finally, Valence8 US LP acquired a new position in shares of Relay Therapeutics in the 3rd quarter valued at $185,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Relay Therapeutics

In related news, insider Peter Rahmer sold 16,576 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.45, for a total value of $73,763.20. Following the completion of the sale, the insider now owns 308,754 shares of the company’s stock, valued at approximately $1,373,955.30. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 36,036 shares of the company’s stock in a transaction dated 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 directly owns 263,190 shares of the company’s stock, valued at $1,218,569.70. This represents a 12.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 570,152 shares of company stock valued at $2,491,157. 4.32% of the stock is owned by company insiders.

Relay Therapeutics Stock Down 0.6 %

Relay Therapeutics stock opened at $3.46 on Monday. Relay Therapeutics, Inc. has a 52-week low of $3.02 and a 52-week high of $10.72. The firm has a market capitalization of $586.55 million, a price-to-earnings ratio of -1.33 and a beta of 1.65. The company has a fifty day simple moving average of $4.19 and a 200-day simple moving average of $5.38.

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

Analysts Set New Price Targets

Several brokerages recently commented on RLAY. Stifel Nicolaus cut their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a report on Friday. Leerink Partners cut their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, The Goldman Sachs Group cut their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Relay Therapeutics presently 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.