Invesco Ltd. Has $484,000 Position in Relay Therapeutics, Inc. $RLAY

Key Points

• Invesco Ltd. increased its position in Relay Therapeutics by 54.8%, owning 184,831 shares valued at $484,000 as of the end of the last quarter.
• Several institutional investors notably raised their stakes in Relay Therapeutics, including Tang Capital Management, which increased its stake by 126.1% during the last quarter.
• Relay Therapeutics reported a quarterly EPS of ($0.41), exceeding analyst expectations and generating revenues of $0.70 million compared to a consensus estimate of $0.07 million.

Invesco Ltd. raised its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 54.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 184,831 shares of the company's stock after purchasing an additional 65,414 shares during the quarter. Invesco Ltd. owned 0.11% of Relay Therapeutics worth $484,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Tang Capital Management LLC raised its stake in Relay Therapeutics by 126.1% during the 4th quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company's stock valued at $33,240,000 after purchasing an additional 4,500,000 shares during the period. Dimensional Fund Advisors LP raised its stake in Relay Therapeutics by 69.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company's stock valued at $12,216,000 after purchasing an additional 1,216,334 shares during the period. Millennium Management LLC raised its stake in Relay Therapeutics by 142.4% during the 4th quarter. Millennium Management LLC now owns 2,568,384 shares of the company's stock valued at $10,582,000 after purchasing an additional 1,508,777 shares during the period. MPM Bioimpact LLC grew its holdings in shares of Relay Therapeutics by 11.6% during the 4th quarter. MPM Bioimpact LLC now owns 2,268,825 shares of the company's stock valued at $9,348,000 after acquiring an additional 235,784 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Relay Therapeutics by 18.0% during the 4th quarter. Point72 Asset Management L.P. now owns 1,592,753 shares of the company's stock valued at $6,562,000 after acquiring an additional 243,353 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Price Performance

RLAY stock opened at $4.12 on Friday. Relay Therapeutics, Inc. has a 52-week low of $1.77 and a 52-week high of $10.72. The company has a 50-day moving average of $3.59 and a two-hundred day moving average of $3.25. The stock has a market capitalization of $710.33 million, a price-to-earnings ratio of -2.11 and a beta of 1.60.

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

Analyst Upgrades and Downgrades

RLAY has been the topic of several research analyst reports. HC Wainwright lowered their price target on shares of Relay Therapeutics from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, August 26th. Guggenheim initiated coverage on shares of Relay Therapeutics in a report on Thursday. They set a "buy" rating and a $15.00 price target on the stock. Finally, Raymond James Financial lowered their price target 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 equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.50.

Insider Buying and Selling at Relay Therapeutics

In related news, insider Peter Rahmer sold 15,724 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total value of $57,864.32. Following the completion of the transaction, the insider owned 377,998 shares of the company's stock, valued at $1,391,032.64. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Catinazzo sold 18,380 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total transaction of $67,638.40. Following the completion of the transaction, the chief financial officer directly owned 335,295 shares of the company's stock, valued at $1,233,885.60. This trade represents a 5.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 149,226 shares of company stock valued at $542,926 in the last three months. 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.

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