Nuveen LLC Invests $839,000 in Relay Therapeutics, Inc. $RLAY

Nuveen LLC purchased a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 320,395 shares of the company's stock, valued at approximately $839,000. Nuveen LLC owned 0.19% of Relay Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tang Capital Management LLC increased its stake in shares of Relay Therapeutics by 126.1% in the 4th quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company's stock worth $33,240,000 after acquiring an additional 4,500,000 shares in the last quarter. Millennium Management LLC grew its holdings in Relay Therapeutics by 142.4% in the fourth quarter. Millennium Management LLC now owns 2,568,384 shares of the company's stock worth $10,582,000 after purchasing an additional 1,508,777 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Relay Therapeutics by 69.6% during the fourth 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 in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Relay Therapeutics during the fourth quarter valued at approximately $2,852,000. Finally, Parkman Healthcare Partners LLC purchased a new position in shares of Relay Therapeutics during the fourth quarter valued at approximately $2,062,000. Hedge funds and other institutional investors own 96.98% of the company's stock.

Relay Therapeutics Price Performance

Shares of RLAY stock traded up $0.12 during mid-day trading on Friday, hitting $4.12. The company had a trading volume of 2,028,112 shares, compared to its average volume of 1,277,542. The stock's 50 day moving average price is $3.59 and its 200-day moving average price is $3.24. Relay Therapeutics, Inc. has a 52-week low of $1.77 and a 52-week high of $10.72. The company has a market capitalization of $710.33 million, a P/E ratio of -2.11 and a beta of 1.60.

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 analysts' consensus estimates of ($0.49) by $0.08. The company had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.07 million. On average, equities research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 18,380 shares of the firm's 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 $67,638.40. Following the completion of the transaction, the chief financial officer owned 335,295 shares in the company, valued at $1,233,885.60. This trade represents a 5.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Peter Rahmer sold 15,724 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 value of $57,864.32. Following the completion of the sale, the insider directly owned 377,998 shares in the company, valued at approximately $1,391,032.64. The trade was a 3.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 149,226 shares of company stock valued at $542,926 in the last 90 days. 4.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RLAY. HC Wainwright reduced their price objective on Relay Therapeutics from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, August 26th. Guggenheim initiated coverage on Relay Therapeutics in a report on Thursday. They issued a "buy" rating and a $15.00 target price for the company. Finally, Raymond James Financial decreased their price objective on shares of Relay Therapeutics from $29.00 to $19.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Relay Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $17.50.

About Relay Therapeutics

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.