Bank of Montreal Can Buys 23,396 Shares of Relay Therapeutics, Inc. $RLAY

Bank of Montreal Can increased its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 73.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,174 shares of the company’s stock after acquiring an additional 23,396 shares during the quarter. Bank of Montreal Can’s holdings in Relay Therapeutics were worth $191,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Woodline Partners LP boosted its position in shares of Relay Therapeutics by 448.4% in the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares during the period. Acadian Asset Management LLC boosted its holdings in Relay Therapeutics by 2,256.1% in the 1st quarter. Acadian Asset Management LLC now owns 682,028 shares of the company’s stock worth $1,785,000 after buying an additional 653,081 shares during the period. Millennium Management LLC increased its stake in Relay Therapeutics by 14.6% in the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after buying an additional 374,491 shares in the last quarter. Private Capital Advisors Inc. raised its holdings in Relay Therapeutics by 341.7% during the second quarter. Private Capital Advisors Inc. now owns 441,739 shares of the company’s stock valued at $1,528,000 after acquiring an additional 341,739 shares during the period. Finally, Nuveen LLC bought a new stake in Relay Therapeutics during the first quarter valued at about $839,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RLAY shares. Guggenheim started coverage on Relay Therapeutics in a research note on Thursday, September 4th. They issued a “buy” rating and a $15.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a report on Tuesday, October 14th. Wells Fargo & Company upped their price target on Relay Therapeutics from $4.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. HC Wainwright reduced their price objective on shares of Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 26th. Finally, Raymond James Financial lowered 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 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.75.

Relay Therapeutics Price Performance

NASDAQ RLAY opened at $6.77 on Friday. Relay Therapeutics, Inc. has a 1-year low of $1.77 and a 1-year high of $7.64. The business has a 50 day simple moving average of $6.03 and a two-hundred day simple moving average of $4.33. The stock has a market capitalization of $1.17 billion, a PE ratio of -3.87 and a beta of 1.76.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). On average, analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 21,664 shares of Relay Therapeutics stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total value of $157,930.56. Following the completion of the transaction, the chief financial officer owned 313,631 shares in the company, valued at approximately $2,286,369.99. This trade represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Donald A. Bergstrom sold 30,897 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total value of $225,239.13. Following the sale, the insider directly owned 521,823 shares in the company, valued at $3,804,089.67. The trade was a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 155,163 shares of company stock valued at $1,117,630. Corporate insiders own 4.87% of the company’s stock.

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.