Raiffeisen Bank International AG Makes New $752,000 Investment in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Raiffeisen Bank International AG acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 180,000 shares of the company's stock, valued at approximately $752,000. Raiffeisen Bank International AG owned about 0.11% of Relay Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at approximately $779,000. Teacher Retirement System of Texas grew its position in Relay Therapeutics by 19.5% in the 4th quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company's stock worth $139,000 after purchasing an additional 5,492 shares during the last quarter. Norges Bank acquired a new stake in Relay Therapeutics in the 4th quarter worth $23,821,000. Rhumbline Advisers increased its stake in Relay Therapeutics by 8.6% in the fourth quarter. Rhumbline Advisers now owns 171,444 shares of the company's stock valued at $706,000 after acquiring an additional 13,532 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Relay Therapeutics by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company's stock worth $61,924,000 after purchasing an additional 566,595 shares during the period. 96.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RLAY. Stifel Nicolaus dropped their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company started coverage on shares of Relay Therapeutics in a report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 price objective for the company. Guggenheim dropped their price objective on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their target price on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $16.00 target price on shares of Relay Therapeutics in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.67.

Relay Therapeutics Trading Up 4.1%

NASDAQ:RLAY traded up $0.12 on Tuesday, hitting $3.05. The company had a trading volume of 1,504,539 shares, compared to its average volume of 2,069,751. The stock has a market capitalization of $522.91 million, a price-to-earnings ratio of -1.17 and a beta of 1.65. The firm has a 50 day moving average of $2.85 and a two-hundred day moving average of $3.91. Relay Therapeutics, Inc. has a 52 week low of $1.78 and a 52 week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.04. The business had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. During the same period in the previous year, the business posted ($0.62) EPS. Relay Therapeutics's revenue was down 23.0% on a year-over-year basis. As a group, equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Insiders Place Their Bets

In other Relay Therapeutics news, insider Peter Rahmer sold 10,739 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $32,217.00. Following the transaction, the insider now directly owns 390,081 shares of the company's stock, valued at approximately $1,170,243. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 12,943 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $38,829.00. Following the transaction, the chief financial officer now owns 355,376 shares in the company, valued at $1,066,128. The trade was a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,320 shares of company stock worth $280,981. Company insiders own 4.87% of the company's stock.

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.