Invesco Ltd. Acquires 5,261 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Invesco Ltd. lifted its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,417 shares of the company’s stock after purchasing an additional 5,261 shares during the period. Invesco Ltd. owned 0.07% of Relay Therapeutics worth $492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its holdings in Relay Therapeutics by 160.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock worth $27,000 after acquiring an additional 4,000 shares during the period. Cibc World Markets Corp bought a new position in Relay Therapeutics in the fourth quarter valued at $47,000. E Fund Management Co. Ltd. increased its position in shares of Relay Therapeutics by 52.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock worth $73,000 after purchasing an additional 6,104 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Relay Therapeutics in the 4th quarter valued at about $102,000. Finally, Savant Capital LLC acquired a new stake in Relay Therapeutics during the 4th quarter valued at $120,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 12,943 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total transaction of $38,829.00. Following the completion of the transaction, the chief financial officer now owns 355,376 shares in the company, valued at $1,066,128. This trade represents a 3.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Peter Rahmer sold 10,739 shares of Relay Therapeutics stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $32,217.00. Following the completion of the transaction, the insider now owns 390,081 shares of the company’s stock, valued at approximately $1,170,243. This represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 309,826 shares of company stock valued at $1,099,380 over the last three months. Insiders own 4.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus cut their target price on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. Finally, Wells Fargo & Company initiated coverage on shares of Relay Therapeutics in a research note on Thursday, April 17th. They set an “equal weight” rating and a $4.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.36.

Relay Therapeutics Stock Down 1.2 %

Shares of Relay Therapeutics stock opened at $3.25 on Friday. The company’s fifty day simple moving average is $2.95 and its two-hundred day simple moving average is $4.17. Relay Therapeutics, Inc. has a 12-month low of $1.78 and a 12-month high of $10.72. The firm has a market cap of $550.95 million, a PE ratio of -1.25 and a beta of 1.70.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Relay Therapeutics Company Profile

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.