Finepoint Capital LP Raises Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Finepoint Capital LP lifted its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 1.3% during the third quarter, HoldingsChannel reports. The fund owned 1,626,146 shares of the company’s stock after acquiring an additional 20,800 shares during the quarter. Relay Therapeutics comprises 0.8% of Finepoint Capital LP’s holdings, making the stock its 14th biggest position. Finepoint Capital LP’s holdings in Relay Therapeutics were worth $11,513,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RLAY. EverSource Wealth Advisors LLC acquired a new position in Relay Therapeutics during the 2nd quarter worth approximately $37,000. Values First Advisors Inc. acquired a new position in Relay Therapeutics during the third quarter worth $75,000. Virtu Financial LLC purchased a new position in Relay Therapeutics in the first quarter worth $87,000. China Universal Asset Management Co. Ltd. lifted its holdings in Relay Therapeutics by 65.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 25,751 shares of the company’s stock valued at $182,000 after acquiring an additional 10,157 shares during the period. Finally, Valence8 US LP purchased a new stake in shares of Relay Therapeutics during the 3rd quarter worth $185,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Bank of America increased 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. JPMorgan Chase & Co. dropped their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. The Goldman Sachs Group started coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They set a “buy” rating and a $20.00 price target on the stock. Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Finally, HC Wainwright boosted their target price on Relay Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.22.

Insiders Place Their Bets

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 stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the transaction, the chief financial officer now directly owns 306,391 shares in the company, valued at approximately $1,856,729.46. The trade was a 2.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.32% of the stock is owned by corporate insiders.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY opened at $4.97 on Tuesday. The business’s fifty day moving average price is $6.29 and its two-hundred day moving average price is $6.91. The stock has a market cap of $831.88 million, a PE ratio of -1.86 and a beta of 1.67. Relay Therapeutics, Inc. has a one year low of $4.48 and a one year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period last year, the business posted ($0.54) EPS. As a group, equities research analysts predict that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current fiscal year.

About 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.