Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 26.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,035,789 shares of the company's stock after acquiring an additional 214,398 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.77% of Relay Therapeutics worth $7,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RLAY. First Turn Management LLC acquired a new stake in Relay Therapeutics during the third quarter worth approximately $8,683,000. Logos Global Management LP purchased a new position in shares of Relay Therapeutics during the 2nd quarter worth $8,476,000. Los Angeles Capital Management LLC boosted its holdings in shares of Relay Therapeutics by 661.7% during the second quarter. Los Angeles Capital Management LLC now owns 106,169 shares of the company's stock worth $692,000 after purchasing an additional 92,230 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Relay Therapeutics by 19.1% in the second quarter. Renaissance Technologies LLC now owns 909,037 shares of the company's stock valued at $5,927,000 after purchasing an additional 145,837 shares during the period. Finally, Driehaus Capital Management LLC grew its position in shares of Relay Therapeutics by 54.9% in the second quarter. Driehaus Capital Management LLC now owns 616,220 shares of the company's stock valued at $4,018,000 after purchasing an additional 218,302 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RLAY shares. Bank of America raised their price target on Relay Therapeutics from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. decreased their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 10th. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday. HC Wainwright cut their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, December 4th. Finally, Leerink Partners lowered their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the transaction, the chief financial officer now directly owns 306,391 shares of the company's stock, valued at $1,856,729.46. This represents a 2.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.32% of the stock is currently owned by corporate insiders.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY traded down $0.20 during midday trading on Thursday, hitting $4.78. 2,953,301 shares of the company's stock traded hands, compared to its average volume of 1,540,829. The firm's fifty day moving average price is $5.62 and its two-hundred day moving average price is $6.71. Relay Therapeutics, Inc. has a twelve month low of $4.25 and a twelve month high of $12.14. The company has a market cap of $800.09 million, a PE ratio of -1.83 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, topping analysts' consensus estimates of ($0.77) by $0.14. During the same period last year, the firm posted ($0.54) EPS. The firm's revenue was down 100.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Relay Therapeutics, Inc. will post -2.56 EPS for the current fiscal 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.