186,063 Shares in Relay Therapeutics, Inc. $RLAY Acquired by CW Advisors LLC

Key Points

• CW Advisors LLC has acquired a new stake in Relay Therapeutics, purchasing 186,063 shares valued at approximately $487,000, representing 0.11% of the company.
• Other large investors have also increased their holdings, with Dimensional Fund Advisors LP raising its stake by 69.6%, now owning nearly 3 million shares valued at approximately $12.2 million.
• Relay Therapeutics recently reported an EPS of ($0.41) for the quarter, surpassing analyst expectations, and analysts project a consensus price target of $17.08 for the stock.

CW Advisors LLC acquired a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 186,063 shares of the company's stock, valued at approximately $487,000. CW Advisors LLC owned approximately 0.11% of Relay Therapeutics as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Relay Therapeutics by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 63,606 shares of the company's stock worth $157,000 after acquiring an additional 22,307 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Relay Therapeutics in the first quarter valued at $41,000. DekaBank Deutsche Girozentrale lifted its stake in Relay Therapeutics by 14.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 68,937 shares of the company's stock valued at $181,000 after acquiring an additional 8,937 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Relay Therapeutics by 137.5% in the fourth quarter. Nuveen Asset Management LLC now owns 653,428 shares of the company's stock valued at $2,692,000 after acquiring an additional 378,322 shares during the last quarter. Finally, Man Group plc acquired a new stake in Relay Therapeutics in the fourth quarter valued at $715,000. Institutional investors own 96.98% of the company's stock.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock traded up $0.08 during midday trading on Tuesday, hitting $3.67. 290,733 shares of the company traded hands, compared to its average volume of 2,208,698. The stock has a market cap of $631.88 million, a price-to-earnings ratio of -1.88 and a beta of 1.60. The firm's fifty day moving average price is $3.54 and its 200-day moving average price is $3.24. Relay Therapeutics, Inc. has a 12 month low of $1.77 and a 12 month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.08. The company had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.07 million. Equities research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In related news, insider Peter Rahmer sold 15,724 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total transaction of $57,864.32. Following the sale, the insider directly owned 377,998 shares of the company's stock, valued at approximately $1,391,032.64. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald A. Bergstrom sold 26,701 shares of Relay Therapeutics 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 $98,259.68. Following the sale, the insider owned 552,720 shares in the company, valued at approximately $2,034,009.60. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,226 shares of company stock worth $542,926 in the last ninety days. Insiders own 4.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RLAY shares. HC Wainwright cut their target price on shares of Relay Therapeutics from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, August 26th. Guggenheim decreased their target price on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Raymond James Financial decreased their target price on shares of Relay Therapeutics from $29.00 to $19.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.08.

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.