Diadema Partners LP Has $151,000 Stake in Relay Therapeutics, Inc. $RLAY

Diadema Partners LP trimmed its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 92.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 43,616 shares of the company’s stock after selling 514,130 shares during the period. Diadema Partners LP’s holdings in Relay Therapeutics were worth $151,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Murchinson Ltd. acquired a new stake in Relay Therapeutics in the first quarter worth $26,000. DRW Securities LLC acquired a new position in shares of Relay Therapeutics during the first quarter worth about $28,000. FNY Investment Advisers LLC grew its stake in shares of Relay Therapeutics by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after acquiring an additional 5,000 shares in the last quarter. Quinn Opportunity Partners LLC bought a new position in Relay Therapeutics in the second quarter valued at $35,000. Finally, May Hill Capital LLC acquired a new position in shares of Relay Therapeutics during the 2nd quarter worth approximately $38,000. 96.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on RLAY. Wells Fargo & Company upped their price objective on Relay Therapeutics from $4.00 to $6.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Tuesday, October 14th. Guggenheim assumed coverage on shares of Relay Therapeutics in a research report on Thursday, September 4th. They issued a “buy” rating and a $15.00 target price for the company. Finally, HC Wainwright cut their target price on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.57.

Insider Buying and Selling at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 62,073 shares of Relay Therapeutics stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $7.00, for a total value of $434,511.00. Following the completion of the transaction, the chief executive officer directly owned 703,215 shares in the company, valued at approximately $4,922,505. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald A. Bergstrom sold 30,897 shares of the company’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total value of $225,239.13. Following the completion of the transaction, the insider owned 521,823 shares in the company, valued at $3,804,089.67. This represents a 5.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 155,163 shares of company stock valued at $1,117,630 over the last 90 days. 4.32% of the stock is currently owned by corporate insiders.

Relay Therapeutics Price Performance

NASDAQ:RLAY opened at $7.58 on Wednesday. The company has a market cap of $1.31 billion, a PE ratio of -4.33 and a beta of 1.50. Relay Therapeutics, Inc. has a one year low of $1.77 and a one year high of $8.36. The firm has a 50-day moving average of $6.81 and a 200-day moving average of $4.76.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, November 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). On average, equities research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal 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.