Relay Therapeutics, Inc. $RLAY Shares Purchased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its ownership in Relay Therapeutics, Inc. by 2,256.1%, acquiring a total of 682,028 shares worth approximately $1.78 million.
• Analysts have mixed views on Relay Therapeutics, with price targets ranging from $14.00 to $19.00, and a consensus rating of "Buy".
• Insider transactions revealed the CEO sold shares, decreasing his ownership by 7.42%, while overall 96.98% of the stock is owned by institutional investors.

Acadian Asset Management LLC boosted its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 2,256.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 682,028 shares of the company's stock after buying an additional 653,081 shares during the period. Acadian Asset Management LLC owned approximately 0.40% of Relay Therapeutics worth $1,785,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in shares of Relay Therapeutics by 4.2% in the 1st quarter. Hsbc Holdings PLC now owns 116,408 shares of the company's stock valued at $300,000 after acquiring an additional 4,639 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Relay Therapeutics by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company's stock valued at $221,000 after purchasing an additional 5,238 shares during the period. Swiss National Bank lifted its stake in shares of Relay Therapeutics by 3.4% during the first quarter. Swiss National Bank now owns 227,000 shares of the company's stock worth $595,000 after purchasing an additional 7,400 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Relay Therapeutics by 14.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 68,937 shares of the company's stock worth $181,000 after purchasing an additional 8,937 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Relay Therapeutics by 4.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 232,582 shares of the company's stock valued at $958,000 after buying an additional 9,293 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RLAY shares. Raymond James Financial decreased their price target on Relay Therapeutics from $29.00 to $19.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. Guggenheim initiated coverage on shares of Relay Therapeutics in a research report on Thursday, September 4th. They set a "buy" rating and a $15.00 target price on the stock. Finally, HC Wainwright lowered their price target on shares of Relay Therapeutics from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $16.50.

Insider Activity

In related news, CEO Sanjiv Patel sold 61,379 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $3.57, for a total transaction of $219,123.03. Following the sale, the chief executive officer owned 765,288 shares in the company, valued at $2,732,078.16. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Adams sold 18,276 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 $67,255.68. Following the sale, the insider owned 371,472 shares in the company, valued at approximately $1,367,016.96. This trade represents a 4.69% 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 over the last quarter. Corporate insiders own 4.32% of the company's stock.

Relay Therapeutics Price Performance

RLAY stock opened at $4.13 on Wednesday. The firm has a market cap of $712.05 million, a price-to-earnings ratio of -2.12 and a beta of 1.60. Relay Therapeutics, Inc. has a 1-year low of $1.77 and a 1-year high of $8.19. The firm has a fifty day moving average price of $3.66 and a two-hundred day moving average price of $3.26.

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

Relay Therapeutics 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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