Principal Financial Group Inc. Trims Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Principal Financial Group Inc. trimmed its position in Relay Therapeutics, Inc. (NASDAQ:RLAYFree Report) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,775 shares of the company’s stock after selling 1,880 shares during the quarter. Principal Financial Group Inc.’s holdings in Relay Therapeutics were worth $214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caxton Associates LP grew its holdings in Relay Therapeutics by 637.3% during the 4th quarter. Caxton Associates LP now owns 279,101 shares of the company’s stock valued at $3,073,000 after buying an additional 241,247 shares in the last quarter. Finepoint Capital LP grew its holdings in Relay Therapeutics by 51.3% during the 4th quarter. Finepoint Capital LP now owns 1,317,870 shares of the company’s stock valued at $14,510,000 after buying an additional 447,000 shares in the last quarter. BVF Inc. IL grew its holdings in Relay Therapeutics by 67.8% during the 4th quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock valued at $43,710,000 after buying an additional 1,604,240 shares in the last quarter. Norges Bank purchased a new stake in Relay Therapeutics during the 4th quarter valued at approximately $33,789,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Relay Therapeutics during the 4th quarter valued at approximately $3,303,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $6.36 on Monday. The business has a fifty day moving average of $6.83 and a 200 day moving average of $8.39. Relay Therapeutics, Inc. has a 52-week low of $5.70 and a 52-week high of $13.32.

Relay Therapeutics (NASDAQ:RLAYGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.08. The company had revenue of $10.01 million during the quarter, compared to the consensus estimate of $0.12 million. The firm’s quarterly revenue was up 4327.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.78) earnings per share. As a group, equities research analysts forecast that Relay Therapeutics, Inc. will post -2.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Peter Rahmer sold 20,450 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $7.06, for a total value of $144,377.00. Following the completion of the sale, the insider now directly owns 432,425 shares in the company, valued at $3,052,920.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Relay Therapeutics news, CFO Thomas Catinazzo sold 9,373 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $6.24, for a total value of $58,487.52. Following the sale, the chief financial officer now owns 330,430 shares in the company, valued at $2,061,883.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Peter Rahmer sold 20,450 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $7.06, for a total value of $144,377.00. Following the completion of the sale, the insider now owns 432,425 shares in the company, valued at approximately $3,052,920.50. The disclosure for this sale can be found here. Insiders sold a total of 53,375 shares of company stock worth $354,836 over the last three months. 4.32% of the stock is owned by insiders.

Analyst Ratings Changes

RLAY has been the subject of a number of research analyst reports. Barclays raised shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Friday, May 10th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Relay Therapeutics in a research report on Friday, June 7th. Oppenheimer reiterated an “outperform” rating and set a $25.00 target price (down from $33.00) on shares of Relay Therapeutics in a research report on Monday, May 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $24.00 target price on shares of Relay Therapeutics in a research report on Monday, May 6th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Relay Therapeutics currently has an average rating of “Buy” and a consensus price target of $22.80.

Read Our Latest Stock Report on Relay Therapeutics

Relay Therapeutics Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Relay Therapeutics (NASDAQ:RLAY)

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