DekaBank Deutsche Girozentrale Raises Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

DekaBank Deutsche Girozentrale lifted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 14.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,937 shares of the company’s stock after buying an additional 8,937 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Relay Therapeutics were worth $181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RLAY. Bank of New York Mellon Corp boosted its stake in shares of Relay Therapeutics by 18.0% in the 4th quarter. Bank of New York Mellon Corp now owns 328,897 shares of the company’s stock worth $1,355,000 after buying an additional 50,190 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Relay Therapeutics by 160.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock worth $27,000 after buying an additional 4,000 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Relay Therapeutics by 30.0% in the 4th quarter. Arizona State Retirement System now owns 32,737 shares of the company’s stock worth $135,000 after buying an additional 7,547 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Relay Therapeutics in the 4th quarter worth $779,000. Finally, HighTower Advisors LLC lifted its position in Relay Therapeutics by 28.9% during the fourth quarter. HighTower Advisors LLC now owns 199,743 shares of the company’s stock valued at $823,000 after purchasing an additional 44,823 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 61,379 shares of Relay Therapeutics stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $3.57, for a total value of $219,123.03. Following the sale, the chief executive officer directly owned 765,288 shares of the company’s stock, valued at approximately $2,732,078.16. The trade was a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 12,943 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 $38,829.00. Following the completion of the sale, the chief financial officer directly owned 355,376 shares in the company, valued at $1,066,128. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,537 shares of company stock valued at $485,444. 4.32% of the stock is currently owned by insiders.

Relay Therapeutics Stock Down 1.1%

NASDAQ:RLAY opened at $3.56 on Tuesday. The business’s 50-day simple moving average is $3.23 and its two-hundred day simple moving average is $3.46. The stock has a market cap of $610.36 million, a PE ratio of -1.60 and a beta of 1.62. Relay Therapeutics, Inc. has a 52 week low of $1.78 and a 52 week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. The business had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. Relay Therapeutics’s revenue was down 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.62) earnings per share. Sell-side analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RLAY. Guggenheim lowered their target price on Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, May 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 target price on the stock. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

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.