Allspring Global Investments Holdings LLC Purchases 2,547 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Allspring Global Investments Holdings LLC boosted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 6.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 41,203 shares of the company’s stock after purchasing an additional 2,547 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Relay Therapeutics were worth $292,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Relay Therapeutics by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock valued at $98,070,000 after acquiring an additional 1,165,282 shares during the period. Logos Global Management LP acquired a new position in shares of Relay Therapeutics in the second quarter valued at $8,476,000. Millennium Management LLC raised its position in shares of Relay Therapeutics by 404.2% in the second quarter. Millennium Management LLC now owns 1,149,177 shares of the company’s stock valued at $7,493,000 after purchasing an additional 921,271 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Relay Therapeutics by 19.1% during the 2nd quarter. Renaissance Technologies LLC now owns 909,037 shares of the company’s stock worth $5,927,000 after buying an additional 145,837 shares during the last quarter. Finally, Integral Health Asset Management LLC boosted its holdings in shares of Relay Therapeutics by 3.4% during the 2nd quarter. Integral Health Asset Management LLC now owns 750,000 shares of the company’s stock worth $4,890,000 after buying an additional 25,000 shares during the period. Institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction dated Monday, October 28th. The shares were 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 owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.32% of the company’s stock.

Wall Street Analysts Forecast Growth

RLAY has been the topic of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Tuesday, September 17th. Bank of America lifted their target price on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Relay Therapeutics in a research note on Monday, October 14th. Barclays raised their price target on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group began coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.11.

Relay Therapeutics Stock Up 3.6 %

Shares of Relay Therapeutics stock opened at $5.84 on Friday. The firm’s 50-day moving average price is $6.88 and its two-hundred day moving average price is $7.01. Relay Therapeutics, Inc. has a 12-month low of $5.60 and a 12-month high of $12.14. The company has a market capitalization of $781.92 million, a price-to-earnings ratio of -2.32 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. On average, sell-side analysts expect that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current year.

Relay Therapeutics 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.