UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in Relay Therapeutics, Inc. $RLAY

Key Points

• UBS Asset Management increased its Relay Therapeutics position by 32.2% in the second quarter, purchasing 67,859 additional shares and bringing its holdings to 278,327 shares worth approximately $5.2 million. Institutional investors and hedge funds collectively own 96.98% of the company.
• Relay Therapeutics reported a quarterly loss of $0.41 per share, missing the consensus estimate of a $0.39 loss, while revenue of $0.35 million also fell below expectations. Analysts project a full-year loss of $1.61 per share.
• The stock opened at $19.11 and has a consensus analyst rating of “Moderate Buy”, with an average price target of $25.92; however, insiders have sold more than 6.4 million shares valued at approximately $123.7 million over the past 90 days.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 32.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,327 shares of the company's stock after buying an additional 67,859 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of Relay Therapeutics worth $5,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. KBC Group NV acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at $34,000. Allworth Financial LP acquired a new stake in Relay Therapeutics during the 2nd quarter worth $34,000. Smartleaf Asset Management LLC grew its position in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company's stock worth $37,000 after purchasing an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Relay Therapeutics during the 4th quarter worth $46,000. Finally, Captrust Financial Advisors acquired a new position in Relay Therapeutics in the second quarter valued at $49,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Trading Up 0.4%

Relay Therapeutics stock opened at $19.11 on Wednesday. The stock has a market cap of $4.19 billion, a PE ratio of -12.17 and a beta of 1.69. The stock has a 50-day moving average price of $19.35 and a 200 day moving average price of $15.27. Relay Therapeutics, Inc. has a 52 week low of $3.87 and a 52 week high of $21.27.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. On average, equities analysts predict that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Insider Activity

In other Relay Therapeutics news, insider Peter Rahmer sold 4,508 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $20.03, for a total value of $90,295.24. Following the completion of the sale, the insider directly owned 223,657 shares of the company's stock, valued at approximately $4,479,849.71. The trade was a 1.98% decrease in their position. The transaction was disclosed in a legal 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 stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the transaction, the chief executive officer directly owned 615,898 shares in the company, valued at approximately $12,059,282.84. This represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,414,147 shares of company stock valued at $123,723,695 in the last 90 days. Insiders own 5.04% of the company's stock.

Wall Street Analyst Weigh In

RLAY has been the subject of several analyst reports. Zacks Research raised Relay Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Citizens Jmp upped their price target on Relay Therapeutics from $21.00 to $26.00 and gave the stock a "market outperform" rating in a report on Monday, August 10th. Citigroup reaffirmed a "market outperform" rating on shares of Relay Therapeutics in a research note on Monday, August 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.92.

Relay Therapeutics Company Profile

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.

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