Franklin Resources Inc. increased its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 3,883.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,396,842 shares of the company's stock after acquiring an additional 1,361,779 shares during the period. Franklin Resources Inc. owned about 0.83% of Relay Therapeutics worth $9,429,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Relay Therapeutics by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company's stock worth $292,000 after purchasing an additional 2,547 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at approximately $37,000. Rhumbline Advisers increased its holdings in Relay Therapeutics by 4.8% in the second quarter. Rhumbline Advisers now owns 163,895 shares of the company's stock worth $1,069,000 after buying an additional 7,508 shares during the last quarter. Victory Capital Management Inc. raised its position in Relay Therapeutics by 11.2% during the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company's stock valued at $499,000 after acquiring an additional 7,680 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Relay Therapeutics in the third quarter valued at approximately $63,000. Institutional investors and hedge funds own 96.98% of the company's stock.
Shares of RLAY stock opened at $4.16 on Friday. The firm has a market capitalization of $696.31 million, a P/E ratio of -1.59 and a beta of 1.59. Relay Therapeutics, Inc. has a 1 year low of $4.11 and a 1 year high of $12.14. The firm's fifty day simple moving average is $5.38 and its 200 day simple moving average is $6.62.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.14. During the same quarter in the prior year, the company posted ($0.54) EPS. The company's revenue was down 100.0% on a year-over-year basis. Equities research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.
In other news, CEO Sanjiv Patel sold 100,000 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief executive officer now directly owns 574,548 shares of the company's stock, valued at approximately $2,872,740. This trade represents a 14.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction that occurred 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 directly owns 306,391 shares in the company, valued at $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,423 shares of company stock worth $551,043 over the last three months. Company insiders own 4.32% of the company's stock.
Several research analysts have recently commented on RLAY shares. Bank of America increased their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. cut their target price on Relay Therapeutics from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Tuesday, September 10th. The Goldman Sachs Group assumed coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They set a "buy" rating and a $20.00 price target for the company. Leerink Partners reduced their target price on Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, December 4th. Finally, Barclays upped their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.50.
Check Out Our Latest Report on 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.
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