Mesirow Financial Investment Management Inc. Acquires New Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Mesirow Financial Investment Management Inc. acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,627 shares of the company’s stock, valued at approximately $146,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Relay Therapeutics in the first quarter valued at about $79,000. Los Angeles Capital Management LLC lifted its stake in shares of Relay Therapeutics by 25.7% in the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after purchasing an additional 2,850 shares during the period. Victory Capital Management Inc. acquired a new position in Relay Therapeutics during the fourth quarter worth about $126,000. Quest Partners LLC acquired a new position in Relay Therapeutics during the fourth quarter worth about $147,000. Finally, China Universal Asset Management Co. Ltd. raised its position in Relay Therapeutics by 354.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,257 shares of the company’s stock worth $157,000 after acquiring an additional 11,122 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY traded down $0.20 during midday trading on Wednesday, reaching $6.27. 712,350 shares of the stock were exchanged, compared to its average volume of 1,237,941. Relay Therapeutics, Inc. has a 52-week low of $5.70 and a 52-week high of $13.32. The stock has a 50 day moving average price of $6.83 and a 200-day moving average price of $8.47.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.08. The company had revenue of $10.01 million during the quarter, compared to analysts’ expectations of $0.12 million. During the same quarter in the previous year, the firm posted ($0.78) earnings per share. Relay Therapeutics’s revenue for the quarter was up 4327.9% compared to the same quarter last year. On average, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.81 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 9,373 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total value of $58,487.52. Following the completion of the sale, the chief financial officer now directly owns 330,430 shares in the company, valued at $2,061,883.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Relay Therapeutics news, CFO Thomas Catinazzo sold 9,373 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total transaction of $58,487.52. Following the completion of the sale, the chief financial officer now directly owns 330,430 shares in the company, valued at $2,061,883.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Rahmer sold 20,450 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $7.06, for a total transaction of $144,377.00. Following the sale, the insider now owns 432,425 shares of the company’s stock, valued at $3,052,920.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,375 shares of company stock worth $354,836. 4.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RLAY shares. JMP Securities restated a “market outperform” rating and set a $24.00 target price on shares of Relay Therapeutics in a research report on Monday, May 6th. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Relay Therapeutics in a research report on Friday, June 7th. Barclays upgraded shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research report on Friday, May 10th. Finally, Oppenheimer restated an “outperform” rating and set a $25.00 target price (down previously from $33.00) on shares of Relay Therapeutics in a research report on Monday, May 6th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.80.

Relay Therapeutics Company 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.