UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 9,293 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,582 shares of the company’s stock after purchasing an additional 9,293 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.14% of Relay Therapeutics worth $958,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RLAY. Raymond James Financial Inc. acquired a new stake in Relay Therapeutics in the 4th quarter valued at $779,000. Teacher Retirement System of Texas lifted its stake in shares of Relay Therapeutics by 19.5% during the fourth quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company’s stock valued at $139,000 after acquiring an additional 5,492 shares during the period. Norges Bank acquired a new position in shares of Relay Therapeutics during the fourth quarter valued at $23,821,000. Nuveen Asset Management LLC increased its holdings in Relay Therapeutics by 137.5% in the fourth quarter. Nuveen Asset Management LLC now owns 653,428 shares of the company’s stock valued at $2,692,000 after purchasing an additional 378,322 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Relay Therapeutics by 8.6% in the fourth quarter. Rhumbline Advisers now owns 171,444 shares of the company’s stock valued at $706,000 after purchasing an additional 13,532 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RLAY has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a report on Friday, March 7th. Wells Fargo & Company began coverage on Relay Therapeutics in a research report on Thursday, April 17th. They set an “equal weight” rating and a $4.00 price target for the company. Stifel Nicolaus cut their price objective 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. Guggenheim cut their price objective on Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group cut their price objective 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.67.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 12,943 shares of the firm’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Rahmer sold 10,739 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $32,217.00. Following the transaction, the insider now owns 390,081 shares in the company, valued at approximately $1,170,243. This trade represents a 2.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,320 shares of company stock worth $280,981 in the last 90 days. Company insiders own 4.87% of the company’s stock.

Relay Therapeutics Trading Up 3.9%

NASDAQ:RLAY opened at $3.49 on Wednesday. The stock has a market cap of $598.34 million, a P/E ratio of -1.34 and a beta of 1.59. The stock has a 50 day simple moving average of $2.89 and a 200 day simple moving average of $3.65. Relay Therapeutics, Inc. has a 1-year low of $1.78 and a 1-year high of $10.72.

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

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.