DekaBank Deutsche Girozentrale Has $391,000 Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

DekaBank Deutsche Girozentrale trimmed its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 13.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the company’s stock after selling 8,937 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Relay Therapeutics were worth $391,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in Relay Therapeutics in the first quarter worth $79,000. Virtu Financial LLC acquired a new stake in shares of Relay Therapeutics in the first quarter worth about $87,000. Los Angeles Capital Management LLC boosted its stake in shares of Relay Therapeutics by 25.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after acquiring an additional 2,850 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Relay Therapeutics during the 4th quarter valued at about $126,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Relay Therapeutics in the 1st quarter valued at approximately $127,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $7.50 on Friday. The company has a 50-day simple moving average of $7.59 and a 200-day simple moving average of $7.33. Relay Therapeutics, Inc. has a 52 week low of $5.70 and a 52 week high of $12.14. The firm has a market capitalization of $1.00 billion, a P/E ratio of -2.84 and a beta of 1.64.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same period last year, the firm posted ($0.81) earnings per share. As a group, equities analysts forecast that Relay Therapeutics, Inc. will post -2.86 earnings per share for the current year.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 9,373 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total value of $58,487.52. Following the sale, the chief financial officer now owns 330,430 shares of the company’s stock, valued at approximately $2,061,883.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Peter Rahmer sold 13,708 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $8.19, for a total value of $112,268.52. Following the completion of the transaction, the insider now directly owns 391,929 shares of the company’s stock, valued at approximately $3,209,898.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas Catinazzo sold 9,373 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total value of $58,487.52. Following the completion of the sale, the chief financial officer now directly owns 330,430 shares in the company, valued at approximately $2,061,883.20. The disclosure for this sale can be found here. Insiders sold a total of 84,738 shares of company stock valued at $715,499 over the last ninety days. 4.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RLAY. Oppenheimer cut Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. Bank of America boosted their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group assumed coverage on shares of Relay Therapeutics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price on the stock. HC Wainwright boosted their target price on shares of Relay Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Stifel Nicolaus restated a “buy” rating and set a $28.00 price target on shares of Relay Therapeutics in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.11.

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.