Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System boosted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Rating) by 24.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,050 shares of the company’s stock after purchasing an additional 4,333 shares during the quarter. Arizona State Retirement System’s holdings in Relay Therapeutics were worth $329,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Relay Therapeutics by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,359,520 shares of the company’s stock valued at $187,003,000 after buying an additional 1,261,066 shares in the last quarter. BlackRock Inc. grew its holdings in Relay Therapeutics by 2.7% in the 3rd quarter. BlackRock Inc. now owns 6,757,637 shares of the company’s stock valued at $151,169,000 after buying an additional 180,459 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Relay Therapeutics by 6.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,300,307 shares of the company’s stock valued at $88,780,000 after buying an additional 300,589 shares in the last quarter. State Street Corp grew its holdings in Relay Therapeutics by 46.9% in the 2nd quarter. State Street Corp now owns 4,778,419 shares of the company’s stock valued at $80,039,000 after buying an additional 1,524,727 shares in the last quarter. Finally, Bellevue Group AG grew its holdings in Relay Therapeutics by 4.3% in the 3rd quarter. Bellevue Group AG now owns 4,204,820 shares of the company’s stock valued at $94,062,000 after buying an additional 172,558 shares in the last quarter.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $10.49 on Monday. Relay Therapeutics, Inc. has a fifty-two week low of $9.67 and a fifty-two week high of $33.06. The firm has a market capitalization of $1.28 billion, a PE ratio of -3.73 and a beta of 1.30. The stock’s 50-day simple moving average is $13.93 and its 200-day simple moving average is $16.68.

Relay Therapeutics (NASDAQ:RLAY – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.08). The business had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.16 million. Relay Therapeutics had a negative net margin of 27,163.46% and a negative return on equity of 35.73%. The firm’s quarterly revenue was down 46.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.61) earnings per share. On average, sell-side analysts forecast that Relay Therapeutics, Inc. will post -3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RLAY. Stifel Nicolaus lowered their price target on Relay Therapeutics from $38.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, April 20th. Jefferies Financial Group upgraded Relay Therapeutics from an “underperform” rating to a “hold” rating and lowered their price target for the stock from $16.00 to $12.50 in a report on Thursday, April 20th. Guggenheim lowered their price target on Relay Therapeutics from $45.00 to $28.00 in a report on Thursday, March 9th. Raymond James upgraded Relay Therapeutics from an “outperform” rating to a “strong-buy” rating and set a $29.00 target price for the company in a report on Wednesday, April 19th. Finally, JPMorgan Chase & Co. lowered their target price on Relay Therapeutics from $42.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.25.

About Relay Therapeutics

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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 RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors.