Victory Capital Management Inc. Boosts Stock Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Victory Capital Management Inc. boosted its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,539 shares of the company’s stock after buying an additional 7,680 shares during the period. Victory Capital Management Inc. owned 0.06% of Relay Therapeutics worth $499,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RLAY. Norges Bank purchased a new stake in Relay Therapeutics during the 4th quarter worth approximately $33,789,000. BVF Inc. IL increased its stake in Relay Therapeutics by 67.8% during the 4th quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock worth $43,710,000 after buying an additional 1,604,240 shares in the last quarter. Vanguard Group Inc. increased its stake in Relay Therapeutics by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock worth $98,070,000 after buying an additional 1,165,282 shares in the last quarter. Bellevue Group AG increased its stake in Relay Therapeutics by 21.5% during the 4th quarter. Bellevue Group AG now owns 5,936,082 shares of the company’s stock worth $65,356,000 after buying an additional 1,051,082 shares in the last quarter. Finally, Finepoint Capital LP increased its stake in Relay Therapeutics by 51.3% during the 4th quarter. Finepoint Capital LP now owns 1,317,870 shares of the company’s stock worth $14,510,000 after buying an additional 447,000 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock opened at $7.50 on Monday. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -2.84 and a beta of 1.64. Relay Therapeutics, Inc. has a fifty-two week low of $5.70 and a fifty-two week high of $12.14. The stock has a 50 day moving average of $7.59 and a 200 day moving average of $7.29.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same period in the previous year, the business earned ($0.81) earnings per share. Analysts forecast that Relay Therapeutics, Inc. will post -2.86 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 36,706 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the completion of the transaction, the chief executive officer now directly owns 766,130 shares in the company, valued at $6,948,799.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Relay Therapeutics news, CEO Sanjiv Patel sold 36,706 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.07, for a total transaction of $332,923.42. Following the transaction, the chief executive officer now directly owns 766,130 shares in the company, valued at $6,948,799.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 10,780 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $8.56, for a total value of $92,276.80. Following the transaction, the chief financial officer now owns 319,650 shares in the company, valued at $2,736,204. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,738 shares of company stock worth $715,499. Company insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RLAY. Stifel Nicolaus reiterated a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. Bank of America upped 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. Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group began coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target for the company. Finally, HC Wainwright upped their price target on Relay Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.11.

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.