Raiffeisen Bank International AG Buys New Shares in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Raiffeisen Bank International AG purchased a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 180,000 shares of the company's stock, valued at approximately $752,000. Raiffeisen Bank International AG owned approximately 0.11% of Relay Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RLAY. Norges Bank purchased a new stake in shares of Relay Therapeutics in the fourth quarter valued at approximately $23,821,000. Millennium Management LLC lifted its position in Relay Therapeutics by 142.4% during the fourth quarter. Millennium Management LLC now owns 2,568,384 shares of the company's stock worth $10,582,000 after buying an additional 1,508,777 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Relay Therapeutics by 69.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company's stock worth $12,216,000 after buying an additional 1,216,334 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Relay Therapeutics by 130.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,549,190 shares of the company's stock worth $6,383,000 after buying an additional 878,095 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Relay Therapeutics in the 4th quarter valued at $2,852,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Trading Up 2.6%

Relay Therapeutics stock traded up $0.08 during trading on Thursday, hitting $2.94. The company had a trading volume of 302,240 shares, compared to its average volume of 2,061,622. The stock has a market cap of $503.19 million, a price-to-earnings ratio of -1.12 and a beta of 1.65. Relay Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $10.72. The company's 50 day simple moving average is $2.83 and its 200-day simple moving average is $3.89.

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

Insider Buying and Selling

In other Relay Therapeutics news, insider Peter Rahmer sold 10,739 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $32,217.00. Following the sale, the insider now directly owns 390,081 shares in the company, valued at $1,170,243. This represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjiv Patel sold 61,422 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $2.97, for a total transaction of $182,423.34. Following the sale, the chief executive officer now directly owns 821,667 shares in the company, valued at $2,440,350.99. This represents a 6.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,320 shares of company stock valued at $280,981. Corporate insiders own 4.87% of the company's stock.

Analysts Set New Price Targets

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

Relay Therapeutics 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.