Hsbc Holdings PLC Grows Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Hsbc Holdings PLC boosted its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 118.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,339 shares of the company’s stock after buying an additional 22,400 shares during the quarter. Hsbc Holdings PLC’s holdings in Relay Therapeutics were worth $257,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RLAY. NEOS Investment Management LLC acquired a new position in shares of Relay Therapeutics during the fourth quarter valued at approximately $243,000. Bellevue Group AG lifted its holdings in Relay Therapeutics by 21.5% in the 4th quarter. Bellevue Group AG now owns 5,936,082 shares of the company’s stock valued at $65,356,000 after purchasing an additional 1,051,082 shares in the last quarter. Pennant Investors LP acquired a new stake in Relay Therapeutics during the 4th quarter worth $467,000. Caxton Associates LP grew its holdings in shares of Relay Therapeutics by 637.3% during the fourth quarter. Caxton Associates LP now owns 279,101 shares of the company’s stock worth $3,073,000 after buying an additional 241,247 shares in the last quarter. Finally, BVF Inc. IL raised its position in shares of Relay Therapeutics by 67.8% in the fourth quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock valued at $43,710,000 after buying an additional 1,604,240 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on RLAY shares. Barclays upped their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Bank of America upped their price target on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. HC Wainwright lifted their price objective on Relay Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. Finally, Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. One equities research 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 a consensus rating of “Moderate Buy” and an average target price of $21.11.

Relay Therapeutics Trading Up 0.6 %

Shares of NASDAQ:RLAY opened at $6.53 on Friday. The company has a market capitalization of $866.81 million, a price-to-earnings ratio of -2.47 and a beta of 1.64. Relay Therapeutics, Inc. has a 12-month low of $5.70 and a 12-month high of $12.14. The business has a 50-day moving average price of $7.21 and a 200 day moving average price of $7.17.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter last year, the firm earned ($0.81) EPS. As a group, equities research analysts predict that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the completion of the sale, the chief executive officer now directly owns 766,130 shares of the company’s stock, valued at approximately $6,948,799.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Peter Rahmer sold 13,708 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $8.19, for a total transaction of $112,268.52. Following the sale, the insider now directly owns 391,929 shares of the company’s stock, valued at $3,209,898.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 36,706 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.07, for a total transaction of $332,923.42. Following the completion of the transaction, the chief executive officer now directly owns 766,130 shares of the company’s stock, valued at $6,948,799.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,717 shares of company stock valued at $652,955 over the last quarter. 4.32% of the stock is owned by company insiders.

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.