Relay Therapeutics, Inc. $RLAY Shares Bought by Bellevue Group AG

Bellevue Group AG lifted its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 11.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,230,870 shares of the company’s stock after acquiring an additional 853,578 shares during the quarter. Bellevue Group AG’s holdings in Relay Therapeutics were worth $28,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RLAY. Murchinson Ltd. acquired a new stake in Relay Therapeutics in the 1st quarter valued at $26,000. DRW Securities LLC acquired a new position in shares of Relay Therapeutics during the first quarter worth about $28,000. FNY Investment Advisers LLC boosted its position in shares of Relay Therapeutics by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after buying an additional 5,000 shares during the period. Quinn Opportunity Partners LLC acquired a new stake in shares of Relay Therapeutics in the second quarter valued at about $35,000. Finally, May Hill Capital LLC acquired a new stake in shares of Relay Therapeutics in the second quarter valued at about $38,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Relay Therapeutics

In other news, insider Peter Rahmer sold 21,394 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $7.50, for a total transaction of $160,455.00. Following the transaction, the insider owned 337,469 shares of the company’s stock, valued at approximately $2,531,017.50. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 62,073 shares of Relay Therapeutics stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $7.00, for a total value of $434,511.00. Following the completion of the transaction, the chief executive officer owned 703,215 shares of the company’s stock, valued at $4,922,505. This trade represents a 8.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 155,163 shares of company stock valued at $1,117,630. 4.87% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RLAY shares. HC Wainwright reduced their price target on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Tuesday, October 14th. Wells Fargo & Company raised shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $6.00 to $13.00 in a research report on Friday. Finally, Guggenheim started coverage on shares of Relay Therapeutics in a research note on Thursday, September 4th. They issued a “buy” rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Relay Therapeutics Stock Up 3.1%

RLAY stock opened at $8.03 on Friday. The stock’s 50 day moving average is $6.96 and its two-hundred day moving average is $4.83. Relay Therapeutics, Inc. has a 52-week low of $1.77 and a 52-week high of $8.70. The company has a market capitalization of $1.39 billion, a PE ratio of -4.59 and a beta of 1.50.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.04). As a group, sell-side analysts anticipate 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.