OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 48.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,699 shares of the company's stock after acquiring an additional 108,651 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of Relay Therapeutics worth $1,362,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Relay Therapeutics during the fourth quarter worth approximately $23,821,000. Millennium Management LLC boosted its stake in Relay Therapeutics by 142.4% in the 4th quarter. Millennium Management LLC now owns 2,568,384 shares of the company's stock worth $10,582,000 after buying an additional 1,508,777 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Relay Therapeutics by 69.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company's stock worth $12,216,000 after buying an additional 1,216,334 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Relay Therapeutics by 130.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,549,190 shares of the company's stock valued at $6,383,000 after purchasing an additional 878,095 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Relay Therapeutics during the 4th quarter valued at about $2,852,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Thomas Catinazzo sold 12,943 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $38,829.00. Following the sale, the chief financial officer now directly owns 355,376 shares of the company's stock, valued at $1,066,128. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjiv Patel sold 61,422 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $2.97, for a total transaction of $182,423.34. Following the sale, the chief executive officer now directly owns 821,667 shares in the company, valued at $2,440,350.99. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,320 shares of company stock worth $280,981. 4.87% of the stock is owned by insiders.

Relay Therapeutics Stock Performance

RLAY stock traded up $0.06 during midday trading on Monday, reaching $2.87. 487,159 shares of the company's stock traded hands, compared to its average volume of 2,069,976. The firm has a market capitalization of $491.19 million, a PE ratio of -1.08 and a beta of 1.65. Relay Therapeutics, Inc. has a 52 week low of $1.78 and a 52 week high of $10.72. The company has a 50-day moving average price of $2.87 and a two-hundred day moving average price of $3.93.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. The company had revenue of $7.68 million during the quarter, compared to analysts' expectations of $0.01 million. During the same quarter last year, the business earned ($0.62) earnings per share. The business's quarterly revenue was down 23.0% on a year-over-year basis. As a group, analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RLAY. Wells Fargo & Company started coverage on Relay Therapeutics in a research report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 target price for the company. Guggenheim lowered their target price on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Stifel Nicolaus lowered their price objective on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a report on Friday, March 7th. Finally, The Goldman Sachs Group cut their target price on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.67.

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.