OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 48.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 330,699 shares of the company’s stock after acquiring an additional 108,651 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.20% of Relay Therapeutics worth $1,362,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RLAY. Steward Partners Investment Advisory LLC lifted its position in Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after buying an additional 4,000 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of Relay Therapeutics in the 4th quarter valued at $42,000. Cibc World Markets Corp acquired a new position in shares of Relay Therapeutics during the 4th quarter valued at $47,000. Summit Investment Advisors Inc. boosted its position in Relay Therapeutics by 41.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company’s stock worth $52,000 after purchasing an additional 3,760 shares during the period. Finally, Virtus ETF Advisers LLC boosted its position in Relay Therapeutics by 26.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company’s stock worth $61,000 after purchasing an additional 3,092 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on RLAY. The Goldman Sachs Group cut their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a report on Friday, March 7th. Wells Fargo & Company initiated coverage on Relay Therapeutics in a research report on Thursday, April 17th. They set an “equal weight” rating and a $4.00 price target on the stock. Guggenheim lowered their price objective on shares of Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus dropped their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $17.67.

Relay Therapeutics Stock Down 9.0%

Shares of RLAY opened at $2.83 on Wednesday. The firm has a market cap of $485.19 million, a price-to-earnings ratio of -1.08 and a beta of 1.65. The business’s 50 day moving average is $2.90 and its two-hundred day moving average is $4.00. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. The company had revenue of $7.68 million during the quarter, compared to the consensus estimate of $0.01 million. During the same quarter last year, the firm posted ($0.62) EPS. The firm’s quarterly revenue was down 23.0% on a year-over-year basis. On average, equities analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Transactions at Relay Therapeutics

In related news, insider Peter Rahmer sold 10,739 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $32,217.00. Following the completion of the sale, the insider now directly owns 390,081 shares of the company’s stock, valued at $1,170,243. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Catinazzo sold 12,943 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total value of $38,829.00. Following the sale, the chief financial officer now owns 355,376 shares in the company, valued at $1,066,128. The trade was a 3.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,644 shares of company stock valued at $559,679. Insiders own 4.32% of the company’s stock.

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.