Raiffeisen Bank International AG reduced its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY – Free Report) by 57.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,000 shares of the company’s stock after selling 110,000 shares during the quarter. Raiffeisen Bank International AG’s holdings in Relay Therapeutics were worth $1,579,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Relay Therapeutics during the second quarter worth about $286,042,000. Commodore Capital LP bought a new position in Relay Therapeutics in the second quarter valued at approximately $46,191,000. Casdin Capital LLC increased its position in shares of Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after purchasing an additional 1,662,193 shares during the last quarter. Perceptive Advisors LLC raised its stake in shares of Relay Therapeutics by 412.3% during the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after purchasing an additional 7,847,896 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Relay Therapeutics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after purchasing an additional 295,701 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on RLAY shares. Guggenheim reissued a “buy” rating on shares of Relay Therapeutics in a research note on Friday, August 7th. HC Wainwright upped their target price on shares of Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Barclays raised their price target on Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, August 7th. UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Finally, Zacks Research raised Relay Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.92.
Insider Buying and Selling
In related news, insider Donald A. Bergstrom sold 2,237 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $41,630.57. Following the transaction, the insider directly owned 407,660 shares of the company’s stock, valued at $7,586,552.60. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $19.40, for a total transaction of $116,400,000.00. Following the transaction, the insider owned 21,904,963 shares in the company, valued at approximately $424,956,282.20. This trade represents a 21.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,414,147 shares of company stock worth $123,723,695 over the last 90 days. 5.04% of the stock is owned by company insiders.
Relay Therapeutics Price Performance
Shares of RLAY stock opened at $19.04 on Friday. The business’s 50 day simple moving average is $19.36 and its 200 day simple moving average is $15.08. Relay Therapeutics, Inc. has a one year low of $3.86 and a one year high of $21.27. The stock has a market capitalization of $4.17 billion, a PE ratio of -12.13 and a beta of 1.69.
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The company had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. As a group, research analysts expect that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.
Relay Therapeutics Company Profile
Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.
The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.
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