UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.58 Million Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 6.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 223,289 shares of the company’s stock after acquiring an additional 13,640 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of Relay Therapeutics worth $1,581,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Relay Therapeutics by 26.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after purchasing an additional 214,398 shares in the last quarter. First Turn Management LLC bought a new position in Relay Therapeutics in the third quarter worth approximately $8,683,000. Ally Bridge Group NY LLC acquired a new stake in Relay Therapeutics in the third quarter valued at approximately $4,432,000. Logos Global Management LP bought a new stake in shares of Relay Therapeutics during the second quarter valued at approximately $8,476,000. Finally, Los Angeles Capital Management LLC raised its position 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 period. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. This represents a 2.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on RLAY shares. Oppenheimer lowered shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Bank of America increased their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Leerink Partners cut their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. JPMorgan Chase & Co. decreased their price objective on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Relay Therapeutics Trading Up 2.8 %

Relay Therapeutics stock opened at $4.84 on Tuesday. The business’s 50 day simple moving average is $5.56 and its 200 day simple moving average is $6.69. Relay Therapeutics, Inc. has a 12 month low of $4.25 and a 12 month high of $12.14. The company has a market cap of $810.12 million, a price-to-earnings ratio of -1.85 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. During the same period in the previous year, the firm posted ($0.54) EPS. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. As a group, equities research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share 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.