Bank of America Corp DE raised its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 86.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,937,695 shares of the company's stock after purchasing an additional 896,746 shares during the quarter. Bank of America Corp DE owned about 1.01% of Relay Therapeutics worth $19,280,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Commodore Capital LP acquired a new position in shares of Relay Therapeutics in the 2nd quarter valued at $46,191,000. Casdin Capital LLC grew its stake in Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company's stock valued at $110,010,000 after purchasing an additional 1,662,193 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Relay Therapeutics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company's stock valued at $81,990,000 after purchasing an additional 295,701 shares during the period. Bellevue Group AG increased its holdings in shares of Relay Therapeutics by 1.4% in the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company's stock valued at $43,564,000 after purchasing an additional 114,740 shares during the period. Finally, State Street Corp raised its stake in shares of Relay Therapeutics by 26.8% in the fourth quarter. State Street Corp now owns 6,426,111 shares of the company's stock worth $54,365,000 after purchasing an additional 1,360,121 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company's stock.
Relay Therapeutics Price Performance
Shares of NASDAQ:RLAY opened at $20.74 on Thursday. Relay Therapeutics, Inc. has a 1 year low of $3.31 and a 1 year high of $21.27. The firm has a market capitalization of $4.54 billion, a PE ratio of -13.21 and a beta of 1.69. The business's 50 day moving average price is $18.66 and its 200-day moving average price is $14.23.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to analysts' expectations of $0.96 million. As a group, analysts expect that Relay Therapeutics, Inc. will post -1.6 earnings per share for the current year.
Insider Transactions at Relay Therapeutics
In related news, insider Donald A. Bergstrom sold 93,456 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider directly owned 418,557 shares of the company's stock, valued at $7,090,355.58. This represents a 18.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 48,199 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value of $943,736.42. Following the completion of the sale, the chief executive officer owned 615,898 shares in the company, valued at approximately $12,059,282.84. The trade was a 7.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 409,639 shares of company stock valued at $7,233,399. 5.04% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. UBS Group set a $26.00 target price on Relay Therapeutics in a research report on Tuesday, May 19th. JonesTrading raised shares of Relay Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Citigroup reiterated a "market outperform" rating on shares of Relay Therapeutics in a research note on Monday, August 10th. JPMorgan Chase & Co. raised their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Finally, Canaccord Genuity Group began coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They issued a "buy" rating and a $29.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.83.
Read Our Latest Stock Report on RLAY
Relay Therapeutics Company Profile
(
Free Report)
Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.
The company's core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.
Further Reading
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