10,000 Shares in Relay Therapeutics, Inc. (NASDAQ:RLAY) Bought by Portland Investment Counsel Inc.

Portland Investment Counsel Inc. acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the third quarter, HoldingsChannel reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $71,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Eventide Asset Management LLC bought a new position in shares of Relay Therapeutics during the 3rd quarter valued at $18,989,000. Walleye Capital LLC increased its position in Relay Therapeutics by 6,659.2% during the third quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock worth $12,885,000 after buying an additional 1,793,057 shares during the last quarter. Logos Global Management LP bought a new position in Relay Therapeutics during the second quarter valued at about $8,476,000. First Turn Management LLC acquired a new stake in shares of Relay Therapeutics in the third quarter worth about $8,683,000. Finally, Vanguard Group Inc. boosted its stake in shares of Relay Therapeutics by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock worth $98,070,000 after acquiring an additional 1,165,282 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RLAY. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. Stifel Nicolaus restated a “buy” rating and issued a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. Barclays upped their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Bank of America upped their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.22.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the sale, the chief financial officer now owns 306,391 shares of the company’s stock, valued at $1,856,729.46. The trade was a 2.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.32% of the stock is currently owned by corporate insiders.

Relay Therapeutics Stock Performance

NASDAQ:RLAY opened at $4.70 on Friday. The firm’s 50-day moving average is $6.06 and its 200-day moving average is $6.85. The company has a market cap of $786.69 million, a price-to-earnings ratio of -1.80 and a beta of 1.67. Relay Therapeutics, Inc. has a 52-week low of $4.48 and a 52-week high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same period in the prior year, the business earned ($0.54) EPS. Relay Therapeutics’s revenue was down 100.0% compared to the same quarter last year. Equities analysts predict that Relay Therapeutics, Inc. will post -2.61 EPS for the current year.

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.