Allspring Global Investments Holdings LLC acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY – FREE REPORT ) during the first quarter, the company announced in its latest 13F filing with the Securities and Exchange Commission. The firm purchased 9,569 shares of the company’s stock worth approximately $79,000.
A number of other large investors also added to or reduced their holdings in the company. China Universal Asset Management increased its stake in Relay Therapeutics by 76.8% in the first quarter. It now owns 25,210 shares of the company, valued at $209,000. It purchased an additional 10,953 shares in the last quarter. Mesilo Financial Investment Management purchased a new stake in Relay Therapeutics in the first quarter, valued at approximately $146,000. Truemark Investments increased its holding in Relay Therapeutics by 13.5% in the first quarter. Truemark Investments now owns 54,445 shares of the company, valued at $452,000, after purchasing an additional 6,487 shares during the period. Congress Asset Management Inc. (Massachusetts) increased its holdings in Relay Therapeutics by 1.4% during the first quarter. Congress Asset Management Inc. now holds 149,082 shares of the company’s stock, valued at $1,237,000, after purchasing an additional 2,108 shares during the period. Finally, Los Angeles Capital Management Inc. increased its holdings in Relay Therapeutics by 25.7% during the first quarter. Los Angeles Capital Management Inc. now holds 13,939 shares of the company’s stock, valued at $116,000, after purchasing an additional 2,850 shares during the period. Hedge funds and other institutional investors hold 96.98% of the company’s stock.
Relay Therapeutics Price Performance
NASDAQ RLAY opened trading at $8.24 on Friday. The stock has a market cap of $1.09 billion, a P/E ratio of -3.12 and a beta of 1.66. Relay Therapeutics, Inc.’s one-year low is $5.70 and its one-year high is $13.30. The company’s 50-day moving average is $6.88 and its 200-day moving average is $8.29.
Relay Therapeutics (NASDAQ:RLAY – Get free report ) last released its quarterly earnings data on Thursday, May 2nd. The company reported quarterly earnings per share of ($0.62), beating the consensus estimate of ($0.70) by $0.08. The company’s quarterly revenue was $10.01 million, beating the consensus estimate of $120,000. The company’s revenue grew 4,327.9% year-over-year. During the same period last year, the company posted earnings per share of ($0.78). Equity research analysts expect Relay Therapeutics, Inc. to post earnings per share of -$2.81 for the current year.
Insider Trading at Relay Therapeutics
In other Relay Therapeutics news, insider Peter Rahmer sold 20,450 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $7.06, for a total transaction value of $144,377.00. Following the sale, the insider now directly owns 432,425 shares of the company’s stock, valued at approximately $3,052,920.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Relay Therapeutics news, CFO Thomas Catinazzo sold 9,373 shares of Relay Therapeutics 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 value of $58,487.52. Following the sale, the CFO now directly owns 330,430 shares of the company’s stock, valued at approximately $2,061,883.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Peter Rahmer sold 20,450 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $7.06, for a total value of $144,377.00. Following the sale, the insider now directly owns 432,425 shares of the company’s stock, valued at $3,052,920.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,375 shares of the company’s stock for a total value of $354,836. 4.32% of the stock is currently owned by company insiders.
Analyst Rating Changes
Several research firms have recently commented on RLAY. JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price target on shares of Relay Therapeutics in a report on Monday, May 6th. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price target (down from the previous $33.00) on shares of Relay Therapeutics in a report on Monday, May 6th. Barclays raised Relay Therapeutics from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Friday, May 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Relay Therapeutics in a report on Friday, June 7th. Seven equities research analysts have rated the stock with a buy recommendation, and Relay Therapeutics currently has an average “Buy” rating and a consensus target price of $22.80 according to MarketBeat.
Read our latest analysis on RLAY
Relay Therapeutics Company Profile
(Free report)
Relay Therapeutics, Inc operates as a clinical-stage precision pharmaceutical company. The company is committed to transforming the drug discovery process with an initial focus on enhancing the discovery of small molecule therapeutics 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) in first-in-human clinical trials in patients with advanced or metastatic FGFR2-mutated solid tumors; RLY-2608, a leading mutant PI3Ka inhibitor program targeting phosphoinositide 3-kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase 2 (SHP2) as monotherapy for patients with advanced or metastatic solid tumors.
References
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