Allspring Global Investments Holdings LLC Sells 3,275 Shares of Relay Therapeutics, Inc. $RLAY

Allspring Global Investments Holdings LLC reduced its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,331 shares of the company’s stock after selling 3,275 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Relay Therapeutics were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of RLAY. Acadian Asset Management LLC grew its position in shares of Relay Therapeutics by 2,256.1% in the first quarter. Acadian Asset Management LLC now owns 682,028 shares of the company’s stock valued at $1,785,000 after purchasing an additional 653,081 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Relay Therapeutics during the first quarter worth about $41,000. DekaBank Deutsche Girozentrale increased its stake in Relay Therapeutics by 14.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 68,937 shares of the company’s stock worth $181,000 after acquiring an additional 8,937 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Relay Therapeutics in the 1st quarter valued at about $223,000. Finally, Invesco Ltd. boosted its position in shares of Relay Therapeutics by 54.8% during the 1st quarter. Invesco Ltd. now owns 184,831 shares of the company’s stock valued at $484,000 after acquiring an additional 65,414 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Donald A. Bergstrom sold 26,701 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 transaction of $98,259.68. Following the completion of the transaction, the insider owned 552,720 shares in the company, valued at $2,034,009.60. The trade was a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Rahmer sold 15,724 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total value of $57,864.32. Following the transaction, the insider owned 377,998 shares of the company’s stock, 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. Over the last three months, insiders have sold 87,847 shares of company stock worth $323,803. Company insiders own 4.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. HC Wainwright cut their price objective on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, August 26th. Raymond James Financial cut their price objective on Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating for the company in a report on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Tuesday, October 14th. Finally, Guggenheim assumed coverage on Relay Therapeutics in a report on Thursday, September 4th. They issued a “buy” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Relay Therapeutics Trading Up 1.5%

Relay Therapeutics stock opened at $6.86 on Friday. The business’s fifty day simple moving average is $4.86 and its two-hundred day simple moving average is $3.80. Relay Therapeutics, Inc. has a 12 month low of $1.77 and a 12 month high of $7.50. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.52 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly 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 business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.07 million. On average, equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Relay Therapeutics Company 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.