Relay Therapeutics, Inc. $RLAY Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 13.0% during the second quarter, Holdings Channel.com reports. The fund owned 60,000 shares of the company’s stock after selling 8,937 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Relay Therapeutics were worth $208,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Millennium Management LLC grew its position in shares of Relay Therapeutics by 14.6% during the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock valued at $7,710,000 after acquiring an additional 374,491 shares during the period. MPM Bioimpact LLC grew its position in shares of Relay Therapeutics by 1.2% during the 1st quarter. MPM Bioimpact LLC now owns 2,295,924 shares of the company’s stock valued at $6,015,000 after acquiring an additional 27,099 shares during the period. Woodline Partners LP grew its position in shares of Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after acquiring an additional 1,241,657 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Relay Therapeutics by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,064,858 shares of the company’s stock valued at $2,790,000 after acquiring an additional 54,051 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Relay Therapeutics by 2,256.1% during the 1st quarter. Acadian Asset Management LLC now owns 682,028 shares of the company’s stock valued at $1,785,000 after acquiring an additional 653,081 shares during the period. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Trading Up 1.5%

Shares of Relay Therapeutics stock opened at $6.86 on Monday. The firm’s 50-day moving average price is $4.86 and its 200 day moving average price is $3.81. Relay Therapeutics, Inc. has a twelve month low of $1.77 and a twelve month high of $7.50. The firm has a market capitalization of $1.18 billion, a PE ratio of -3.52 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Thursday, August 7th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.08. The business had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.07 million. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Brian Adams sold 18,276 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total value of $67,255.68. Following the transaction, the insider directly owned 371,472 shares of the company’s stock, valued at $1,367,016.96. This trade represents a 4.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas Catinazzo sold 18,380 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total transaction of $67,638.40. Following the completion of the transaction, the chief financial officer directly owned 335,295 shares in the company, valued at $1,233,885.60. This trade represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,081 shares of company stock valued at $291,018. Company insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RLAY. Guggenheim initiated coverage on Relay Therapeutics in a research report on Thursday, September 4th. They set a “buy” rating and a $15.00 target price on the stock. HC Wainwright decreased their price target on shares of Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, August 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Tuesday, October 14th. Finally, Raymond James Financial decreased their price target on shares of Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.50.

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.