Federated Hermes Inc. Has $2.04 Million Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Federated Hermes Inc. lessened its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 312,444 shares of the company’s stock after selling 24,046 shares during the period. Federated Hermes Inc. owned 0.24% of Relay Therapeutics worth $2,037,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in Relay Therapeutics in the 4th quarter valued at $126,000. Charles Schwab Investment Management Inc. grew its position in shares of Relay Therapeutics by 22.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 877,813 shares of the company’s stock valued at $9,665,000 after purchasing an additional 163,008 shares during the last quarter. Norges Bank bought a new position in shares of Relay Therapeutics in the fourth quarter worth about $33,789,000. Dynamic Technology Lab Private Ltd lifted its position in shares of Relay Therapeutics by 41.8% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 20,763 shares of the company’s stock worth $228,000 after purchasing an additional 6,125 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Relay Therapeutics during the 4th quarter valued at approximately $147,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 4.6 %

NASDAQ RLAY opened at $7.50 on Friday. Relay Therapeutics, Inc. has a twelve month low of $5.70 and a twelve month high of $12.14. The stock has a market cap of $1.00 billion, a P/E ratio of -2.84 and a beta of 1.64. The company’s 50-day simple moving average is $7.59 and its 200 day simple moving average is $7.33.

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

Wall Street Analyst Weigh In

Several research analysts have commented on RLAY shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $28.00 price target on shares of Relay Therapeutics in a research report on Monday, September 16th. Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Barclays increased their price target on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. The Goldman Sachs Group started coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Oppenheimer cut shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.11.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 13,523 shares of Relay Therapeutics stock in a transaction on Monday, July 29th. The stock was sold at an average price of $8.54, for a total transaction of $115,486.42. Following the completion of the transaction, the insider now directly owns 420,765 shares of the company’s stock, valued at $3,593,333.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Thomas Catinazzo sold 9,373 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $6.24, for a total value of $58,487.52. Following the transaction, the chief financial officer now directly owns 330,430 shares of the company’s stock, valued at approximately $2,061,883.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Rahmer sold 13,523 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $8.54, for a total value of $115,486.42. Following the sale, the insider now directly owns 420,765 shares of the company’s stock, valued at $3,593,333.10. The disclosure for this sale can be found here. Insiders have sold 84,738 shares of company stock worth $715,499 over the last three months. Company insiders own 4.32% of the company’s stock.

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.