Jacobi Capital Management LLC lifted its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 1,108.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 834 shares of the company’s stock after buying an additional 765 shares during the quarter. Jacobi Capital Management LLC’s holdings in Relay Therapeutics were worth $29,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of RLAY. BlackRock Inc. grew its holdings in shares of Relay Therapeutics by 52.8% during the fourth quarter. BlackRock Inc. now owns 3,156,974 shares of the company’s stock worth $131,203,000 after buying an additional 1,091,529 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Relay Therapeutics by 28.3% during the first quarter. Alliancebernstein L.P. now owns 1,053,291 shares of the company’s stock worth $36,412,000 after buying an additional 232,522 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Relay Therapeutics by 90.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 484,395 shares of the company’s stock worth $20,131,000 after buying an additional 229,886 shares in the last quarter. Norges Bank purchased a new stake in shares of Relay Therapeutics during the fourth quarter worth about $8,690,000. Finally, Standard Life Aberdeen plc purchased a new stake in shares of Relay Therapeutics during the first quarter worth about $4,619,000. Institutional investors and hedge funds own 90.64% of the company’s stock.
In other Relay Therapeutics news, General Counsel Brian Adams sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $35.00, for a total transaction of $227,500.00. Following the completion of the sale, the general counsel now directly owns 32,370 shares in the company, valued at $1,132,950. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald A. Bergstrom sold 56,324 shares of the business’s stock in a transaction on Friday, April 16th. The stock was sold at an average price of $32.36, for a total transaction of $1,822,644.64. Following the transaction, the insider now directly owns 77,241 shares in the company, valued at $2,499,518.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,824 shares of company stock valued at $3,065,145. 4.88% of the stock is owned by insiders.
Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, May 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.02. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.87 EPS for the current year.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, June 3rd. JMP Securities boosted their target price on shares of Relay Therapeutics from $50.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, March 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.83.
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. The company's lead product candidates include RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors; RLY-4008, an oral small molecule selective inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced solid tumors having oncogenic FGFR2 alterations; and RLY-PI3K1047, a lead compound that targets cancer-associated mutant variants of phosphoinositide 3-kinase alpha.
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