Thrivent Financial for Lutherans Grows Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Thrivent Financial for Lutherans raised its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,668 shares of the company’s stock after acquiring an additional 6,210 shares during the quarter. Thrivent Financial for Lutherans owned 0.10% of Relay Therapeutics worth $687,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in RLAY. Charles Schwab Investment Management Inc. increased its holdings in shares of Relay Therapeutics by 26.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock valued at $7,333,000 after purchasing an additional 214,398 shares in the last quarter. Maven Securities LTD purchased a new position in Relay Therapeutics in the third quarter valued at about $2,389,000. Geode Capital Management LLC increased its holdings in Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after buying an additional 367,473 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Relay Therapeutics by 39.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after acquiring an additional 1,554,115 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Relay Therapeutics by 3,883.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after acquiring an additional 1,361,779 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RLAY. The Goldman Sachs Group dropped their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Leerink Partners dropped their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, Stifel Nicolaus cut their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

Insiders Place Their Bets

In other Relay Therapeutics news, insider Peter Rahmer sold 17,250 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total transaction of $76,245.00. Following the transaction, the insider now directly owns 402,431 shares of the company’s stock, valued at $1,778,745.02. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 75,324 shares of Relay Therapeutics stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $3.70, for a total transaction of $278,698.80. Following the transaction, the chief executive officer now owns 883,089 shares in the company, valued at $3,267,429.30. The trade was a 7.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 437,994 shares of company stock valued at $1,849,557 over the last quarter. Company insiders own 4.32% of the company’s stock.

Relay Therapeutics Trading Up 0.8 %

Shares of NASDAQ:RLAY opened at $2.49 on Thursday. The firm has a market cap of $422.11 million, a price-to-earnings ratio of -0.95 and a beta of 1.65. The stock’s 50-day moving average price is $3.71 and its two-hundred day moving average price is $4.87. Relay Therapeutics, Inc. has a 12-month low of $2.36 and a 12-month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.12. As a group, research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share 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.