Victory Capital Management Inc. Sells 2,653 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Victory Capital Management Inc. reduced its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,886 shares of the company’s stock after selling 2,653 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Relay Therapeutics worth $523,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new position in Relay Therapeutics in the second quarter valued at about $37,000. Virtu Financial LLC purchased a new position in Relay Therapeutics in the first quarter valued at about $87,000. Values First Advisors Inc. purchased a new position in Relay Therapeutics in the third quarter valued at about $75,000. China Universal Asset Management Co. Ltd. grew its stake in Relay Therapeutics by 65.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 25,751 shares of the company’s stock valued at $182,000 after purchasing an additional 10,157 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Relay Therapeutics by 304.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 38,656 shares of the company’s stock valued at $252,000 after purchasing an additional 29,087 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 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 SEC, which can be accessed through this link. Corporate insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

RLAY has been the topic of several analyst reports. HC Wainwright lifted their target price on Relay Therapeutics from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Barclays boosted 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. Stifel Nicolaus restated a “buy” rating and set a $28.00 price target on shares of Relay Therapeutics in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price target on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.22.

Relay Therapeutics Stock Down 2.1 %

Relay Therapeutics stock opened at $4.70 on Friday. Relay Therapeutics, Inc. has a 52 week low of $4.48 and a 52 week high of $12.14. The company has a market capitalization of $786.69 million, a price-to-earnings ratio of -1.80 and a beta of 1.67. The stock has a 50-day moving average price of $6.06 and a 200 day moving average price of $6.85.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results 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 company posted ($0.54) EPS. Relay Therapeutics’s revenue was down 100.0% compared to the same quarter last year. Research analysts anticipate that Relay Therapeutics, Inc. will post -2.61 EPS for the current fiscal year.

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.