Deutsche Bank AG Lowers Holdings in Relay Therapeutics, Inc. $RLAY

Deutsche Bank AG lowered its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 14.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,769 shares of the company’s stock after selling 11,691 shares during the period. Deutsche Bank AG’s holdings in Relay Therapeutics were worth $185,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Relay Therapeutics by 1.5% during the 4th 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 last quarter. Invesco Ltd. boosted its position in shares of Relay Therapeutics by 4.6% during the 4th quarter. Invesco Ltd. now owns 119,417 shares of the company’s stock worth $492,000 after purchasing an additional 5,261 shares during the period. Tudor Investment Corp ET AL boosted its position in shares of Relay Therapeutics by 7.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 86,357 shares of the company’s stock worth $356,000 after purchasing an additional 5,674 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Relay Therapeutics by 28.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,128 shares of the company’s stock worth $112,000 after buying an additional 6,078 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Relay Therapeutics by 14.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 68,937 shares of the company’s stock worth $181,000 after buying an additional 8,937 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 18,380 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total value of $67,638.40. Following the completion of the transaction, the chief financial officer directly owned 335,295 shares in the company, valued at approximately $1,233,885.60. The trade was a 5.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald A. Bergstrom sold 26,701 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total value of $98,259.68. Following the sale, the insider owned 552,720 shares of the company’s stock, valued at approximately $2,034,009.60. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,226 shares of company stock worth $542,926 in the last three months. 4.87% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RLAY. HC Wainwright decreased their price objective on shares of Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, August 26th. Raymond James Financial dropped their price objective on shares of Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 8th. Finally, Guggenheim dropped their price objective on shares of Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.08.

Relay Therapeutics Stock Performance

RLAY stock opened at $3.59 on Friday. Relay Therapeutics, Inc. has a 1 year low of $1.77 and a 1 year high of $10.72. The stock’s 50 day moving average price is $3.53 and its 200 day moving average price is $3.25. The firm has a market cap of $618.95 million, a P/E ratio of -1.84 and a beta of 1.62.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, August 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.08. The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.07 million. On average, research analysts predict 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.