Nuveen Asset Management LLC Increases Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Nuveen Asset Management LLC boosted its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 137.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 653,428 shares of the company’s stock after purchasing an additional 378,322 shares during the period. Nuveen Asset Management LLC owned approximately 0.39% of Relay Therapeutics worth $2,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Martingale Asset Management L P lifted its holdings in Relay Therapeutics by 3.5% during the 4th quarter. Martingale Asset Management L P now owns 80,371 shares of the company’s stock worth $331,000 after buying an additional 2,700 shares during the last quarter. Virtus ETF Advisers LLC lifted its stake in Relay Therapeutics by 26.2% during the fourth quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company’s stock worth $61,000 after purchasing an additional 3,092 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Relay Therapeutics by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company’s stock worth $902,000 after purchasing an additional 3,325 shares during the period. Summit Investment Advisors Inc. increased its stake in Relay Therapeutics by 41.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company’s stock valued at $52,000 after purchasing an additional 3,760 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling at Relay Therapeutics

In other news, insider Peter Rahmer sold 10,739 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $32,217.00. Following the transaction, the insider now owns 390,081 shares in the company, valued at approximately $1,170,243. This represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjiv Patel sold 61,422 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $2.97, for a total value of $182,423.34. Following the transaction, the chief executive officer now directly owns 821,667 shares in the company, valued at $2,440,350.99. The trade was a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,320 shares of company stock worth $280,981 over the last quarter. Corporate insiders own 4.87% of the company’s stock.

Analysts Set New Price Targets

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

Relay Therapeutics Price Performance

NASDAQ RLAY opened at $3.18 on Tuesday. The business has a fifty day moving average price of $2.80 and a two-hundred day moving average price of $3.70. The stock has a market capitalization of $545.20 million, a PE ratio of -1.22 and a beta of 1.65. Relay Therapeutics, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Monday, May 5th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. The business had revenue of $7.68 million for the quarter, compared to analyst estimates of $0.01 million. During the same period in the previous year, the firm posted ($0.62) EPS. The firm’s revenue was down 23.0% compared to the same quarter last year. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Relay Therapeutics 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.