Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 137.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 653,428 shares of the company's stock after purchasing an additional 378,322 shares during the period. Nuveen Asset Management LLC owned 0.39% of Relay Therapeutics worth $2,692,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Relay Therapeutics during the fourth quarter valued at approximately $23,821,000. Millennium Management LLC boosted its position 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 acquiring an additional 1,508,777 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Relay Therapeutics by 69.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company's stock valued at $12,216,000 after acquiring an additional 1,216,334 shares during the period. Renaissance Technologies LLC raised its position in shares of Relay Therapeutics by 130.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,549,190 shares of the company's stock worth $6,383,000 after acquiring an additional 878,095 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Relay Therapeutics in the 4th quarter worth $2,852,000. Institutional investors own 96.98% of the company's stock.

Insider Activity

In related news, insider Peter Rahmer sold 10,739 shares of the firm's stock in a transaction on 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 owns 390,081 shares in the company, valued at approximately $1,170,243. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjiv Patel sold 61,422 shares of Relay Therapeutics stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $2.97, for a total transaction of $182,423.34. Following the completion of the transaction, the chief executive officer now directly owns 821,667 shares of the company's stock, valued at $2,440,350.99. The trade was a 6.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,320 shares of company stock valued at $280,981 in the last quarter. 4.87% of the stock is currently owned by company insiders.

Relay Therapeutics Trading Up 3.7%

Shares of RLAY stock traded up $0.12 during trading hours on Friday, hitting $3.36. The company's stock had a trading volume of 1,765,054 shares, compared to its average volume of 2,077,422. The stock has a market cap of $576.06 million, a PE ratio of -1.29 and a beta of 1.59. Relay Therapeutics, Inc. has a 12-month low of $1.78 and a 12-month high of $10.72. The company has a 50 day moving average of $2.84 and a 200 day moving average of $3.68.

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

Analyst Ratings Changes

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

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.