Relay Therapeutics, Inc. $RLAY Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its holdings in Relay Therapeutics by 36.7%, now owning 99,056 shares worth approximately $343,000.
• Relay Therapeutics reported earnings of ($0.41) per share for the last quarter, exceeding analyst expectations of ($0.49), with revenue of $0.70 million.
• Multiple institutional investors have modified their positions, with 96.98% of the company's stock currently owned by institutional investors and hedge funds.

TD Asset Management Inc lessened its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 36.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,056 shares of the company's stock after selling 57,400 shares during the quarter. TD Asset Management Inc owned approximately 0.06% of Relay Therapeutics worth $343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC boosted its position in shares of Relay Therapeutics by 4.2% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company's stock valued at $221,000 after acquiring an additional 5,238 shares during the last quarter. Swiss National Bank boosted its position in shares of Relay Therapeutics by 3.4% during the 1st quarter. Swiss National Bank now owns 227,000 shares of the company's stock valued at $595,000 after acquiring an additional 7,400 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Relay Therapeutics by 14.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 68,937 shares of the company's stock valued at $181,000 after acquiring an additional 8,937 shares during the last quarter. Finally, Murchinson Ltd. acquired a new position in shares of Relay Therapeutics during the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Trading Up 4.3%

Shares of RLAY opened at $6.76 on Friday. The firm has a market cap of $1.17 billion, a P/E ratio of -3.47 and a beta of 1.75. Relay Therapeutics, Inc. has a 12-month low of $1.77 and a 12-month high of $7.19. The company's 50-day moving average price is $4.79 and its 200 day moving average price is $3.75.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RLAY shares. Guggenheim started coverage on shares of Relay Therapeutics in a research report on Thursday, September 4th. They set a "buy" rating and a $15.00 price target on the stock. 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 research report on Tuesday, August 26th. 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 research report on Friday, August 8th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Relay Therapeutics in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.50.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 26,701 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total transaction of $98,259.68. Following the sale, the insider directly owned 552,720 shares in the company, valued at $2,034,009.60. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Catinazzo sold 18,380 shares of the business's 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,847 shares of company stock valued at $323,803 over the last three months. 4.87% of the stock is currently owned by company insiders.

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.

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