Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Bought by Bellevue Group AG

Bellevue Group AG raised its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,377,184 shares of the company's stock after acquiring an additional 1,000,069 shares during the quarter. Relay Therapeutics makes up 0.8% of Bellevue Group AG's portfolio, making the stock its 29th biggest holding. Bellevue Group AG owned approximately 5.51% of Relay Therapeutics worth $52,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RLAY. Portland Investment Counsel Inc. purchased a new stake in Relay Therapeutics in the 3rd quarter worth approximately $71,000. Braidwell LP lifted its stake in shares of Relay Therapeutics by 16.4% during the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company's stock worth $24,776,000 after purchasing an additional 492,628 shares during the period. Eventide Asset Management LLC acquired a new stake in shares of Relay Therapeutics during the third quarter worth $18,989,000. Verition Fund Management LLC grew its position in shares of Relay Therapeutics by 451.0% in the third quarter. Verition Fund Management LLC now owns 76,139 shares of the company's stock valued at $539,000 after purchasing an additional 62,320 shares during the period. Finally, Sio Capital Management LLC acquired a new position in Relay Therapeutics in the third quarter valued at $6,697,000. Hedge funds and other institutional investors own 96.98% of the company's stock.

Insider Transactions at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now directly owns 306,391 shares of the company's stock, valued at approximately $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.32% of the company's stock.

Relay Therapeutics Stock Down 2.1 %

Shares of NASDAQ RLAY traded down $0.10 on Friday, hitting $4.70. The company had a trading volume of 2,250,910 shares, compared to its average volume of 1,526,943. Relay Therapeutics, Inc. has a 12-month low of $4.48 and a 12-month high of $12.14. The firm has a market capitalization of $786.70 million, a P/E ratio of -1.80 and a beta of 1.67. The business has a 50 day moving average of $6.06 and a two-hundred day moving average of $6.86.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.14. During the same period last year, the business earned ($0.54) EPS. The company's revenue was down 100.0% on a year-over-year basis. On average, sell-side analysts anticipate that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on RLAY. JMP Securities reissued a "market outperform" rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Tuesday, September 17th. Oppenheimer downgraded Relay Therapeutics from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 10th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $28.00 target price on shares of Relay Therapeutics in a research report on Monday, September 16th. Bank of America boosted their price target on Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Finally, Barclays upped their price target on Relay Therapeutics from $14.00 to $17.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.22.

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.