Relay Therapeutics, Inc. $RLAY Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 4.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 116,408 shares of the company’s stock after purchasing an additional 4,639 shares during the period. Hsbc Holdings PLC owned 0.07% of Relay Therapeutics worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Cresset Asset Management LLC acquired a new position in Relay Therapeutics in the first quarter worth about $77,000. American Century Companies Inc. grew its stake in Relay Therapeutics by 13.4% in the first quarter. American Century Companies Inc. now owns 308,752 shares of the company’s stock worth $809,000 after purchasing an additional 36,586 shares in the last quarter. HighTower Advisors LLC grew its stake in Relay Therapeutics by 23.7% in the first quarter. HighTower Advisors LLC now owns 247,176 shares of the company’s stock worth $648,000 after purchasing an additional 47,433 shares in the last quarter. Nuveen LLC acquired a new position in Relay Therapeutics in the first quarter worth about $839,000. Finally, Invesco Ltd. grew its stake in Relay Therapeutics by 54.8% in the first quarter. Invesco Ltd. now owns 184,831 shares of the company’s stock worth $484,000 after purchasing an additional 65,414 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 18,380 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total transaction of $67,638.40. Following the sale, the chief financial officer owned 335,295 shares of the company’s stock, valued at approximately $1,233,885.60. The trade was a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Peter Rahmer sold 15,724 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total value of $57,864.32. Following the sale, the insider directly owned 377,998 shares in the company, valued at approximately $1,391,032.64. The trade was a 3.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,226 shares of company stock valued at $542,926. Company insiders own 4.87% of the company’s stock.

Analyst Ratings Changes

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

Relay Therapeutics Trading Up 12.3%

RLAY opened at $4.11 on Thursday. The business’s 50 day moving average is $3.56 and its 200-day moving average is $3.25. The stock has a market cap of $708.61 million, a PE ratio of -2.11 and a beta of 1.60. Relay Therapeutics, Inc. has a twelve month low of $1.77 and a twelve month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.08. The business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.07 million. As a group, 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.