Raiffeisen Bank International AG Cuts Stock Position in Relay Therapeutics, Inc. $RLAY

Raiffeisen Bank International AG lessened its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 57.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,000 shares of the company’s stock after selling 110,000 shares during the quarter. Raiffeisen Bank International AG’s holdings in Relay Therapeutics were worth $1,579,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RLAY. Sanctuary Advisors LLC increased its position in shares of Relay Therapeutics by 1.1% during the first quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock worth $1,431,000 after acquiring an additional 1,588 shares during the last quarter. Abel Hall LLC boosted its stake in Relay Therapeutics by 16.2% in the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock valued at $110,000 after acquiring an additional 1,809 shares during the period. Allworth Financial LP bought a new position in shares of Relay Therapeutics during the second quarter valued at approximately $34,000. Cresset Asset Management LLC raised its position in shares of Relay Therapeutics by 5.0% during the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after purchasing an additional 1,848 shares during the period. Finally, Prelude Capital Management LLC lifted its stake in Relay Therapeutics by 18.7% in the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after buying an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Up 0.2%

RLAY opened at $19.04 on Friday. The firm has a market capitalization of $4.17 billion, a P/E ratio of -12.13 and a beta of 1.69. The stock’s 50 day moving average price is $19.36 and its two-hundred day moving average price is $15.08. Relay Therapeutics, Inc. has a 12-month low of $3.86 and a 12-month high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The firm had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. As a group, analysts anticipate that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Buying and Selling

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value of $943,736.42. Following the completion of the transaction, the chief executive officer directly owned 615,898 shares of the company’s stock, valued at approximately $12,059,282.84. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 187,163 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the sale, the chief financial officer directly owned 177,461 shares in the company, valued at $3,011,513.17. This trade represents a 51.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 6,414,147 shares of company stock valued at $123,723,695. Insiders own 5.04% of the company’s stock.

Wall Street Analysts Forecast Growth

RLAY has been the topic of a number of recent analyst reports. UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, May 19th. The Goldman Sachs Group increased their price target on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Barclays lifted their price objective on shares of Relay Therapeutics from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen lowered Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, HC Wainwright raised their target price on Relay Therapeutics from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

About Relay Therapeutics

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.