JPMorgan Chase & Co. Sells 3,876,024 Shares of Relay Therapeutics, Inc. $RLAY

JPMorgan Chase & Co. lessened its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 89.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 462,379 shares of the company’s stock after selling 3,876,024 shares during the quarter. JPMorgan Chase & Co.’s holdings in Relay Therapeutics were worth $2,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cresset Asset Management LLC raised its stake in Relay Therapeutics by 5.0% during the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock valued at $203,000 after purchasing an additional 1,848 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Relay Therapeutics by 8.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company’s stock valued at $145,000 after purchasing an additional 2,079 shares during the period. Prelude Capital Management LLC raised its stake in Relay Therapeutics by 18.7% during the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after purchasing an additional 3,100 shares during the period. SG Americas Securities LLC raised its stake in Relay Therapeutics by 17.8% during the 3rd quarter. SG Americas Securities LLC now owns 31,945 shares of the company’s stock valued at $167,000 after purchasing an additional 4,825 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after purchasing an additional 5,238 shares during the period. Institutional investors own 96.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RLAY. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. Wells Fargo & Company lifted their target price on Relay Therapeutics from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, March 17th. Oppenheimer reissued an “outperform” rating on shares of Relay Therapeutics in a research note on Monday, March 16th. HC Wainwright lifted their target price on Relay Therapeutics from $14.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Finally, Citizens Jmp lifted their target price on Relay Therapeutics from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock opened at $12.45 on Tuesday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -7.69 and a beta of 1.57. The stock has a 50 day moving average price of $9.56 and a 200-day moving average price of $7.96. Relay Therapeutics, Inc. has a one year low of $1.77 and a one year high of $13.38.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.06. The company had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $4.34 million. Sell-side analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 13,820 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $105,308.40. Following the completion of the transaction, the chief financial officer owned 250,996 shares in the company, valued at approximately $1,912,589.52. The trade was a 5.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Rahmer sold 11,684 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $89,032.08. Following the completion of the transaction, the insider owned 277,964 shares of the company’s stock, valued at approximately $2,118,085.68. This trade represents a 4.03% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 50,134 shares of company stock worth $386,781. 4.87% of the stock is currently owned by company insiders.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.