EntryPoint Capital LLC Sells 4,043 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

EntryPoint Capital LLC reduced its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 15.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,325 shares of the company’s stock after selling 4,043 shares during the quarter. EntryPoint Capital LLC’s holdings in Relay Therapeutics were worth $92,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake in Relay Therapeutics by 160.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock worth $27,000 after buying an additional 4,000 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Relay Therapeutics by 19.5% during the 4th quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company’s stock worth $139,000 after acquiring an additional 5,492 shares during the period. E Fund Management Co. Ltd. lifted its stake in shares of Relay Therapeutics by 52.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock valued at $73,000 after purchasing an additional 6,104 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Relay Therapeutics by 3.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 166,668 shares of the company’s stock valued at $687,000 after purchasing an additional 6,210 shares during the period. Finally, Corebridge Financial Inc. boosted its position in shares of Relay Therapeutics by 13.8% during the fourth quarter. Corebridge Financial Inc. now owns 60,500 shares of the company’s stock valued at $249,000 after purchasing an additional 7,314 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Thomas Catinazzo sold 20,791 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $4.42, for a total transaction of $91,896.22. Following the completion of the sale, the chief financial officer now owns 379,431 shares in the company, valued at approximately $1,677,085.02. This represents a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Rahmer sold 16,576 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following the completion of the transaction, the insider now directly owns 308,754 shares in the company, valued at $1,373,955.30. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 464,988 shares of company stock valued at $1,968,344 over the last three months. Insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

RLAY has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. Leerink Partners decreased their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. The Goldman Sachs Group lowered their target price 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Relay Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $19.80.

Relay Therapeutics Price Performance

RLAY stock opened at $2.72 on Monday. The stock has a market capitalization of $461.10 million, a P/E ratio of -1.04 and a beta of 1.65. Relay Therapeutics, Inc. has a 1-year low of $2.69 and a 1-year high of $10.72. The business has a fifty day moving average price of $3.84 and a 200-day moving average price of $4.96.

Relay Therapeutics (NASDAQ:RLAY) last issued its 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, analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share 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.