Charles Schwab Investment Management Inc. Has $4.17 Million Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Charles Schwab Investment Management Inc. decreased its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 2.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,010,807 shares of the company’s stock after selling 24,982 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Relay Therapeutics were worth $4,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RLAY. Thrivent Financial for Lutherans raised its stake in shares of Relay Therapeutics by 33.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 160,458 shares of the company’s stock worth $1,137,000 after purchasing an additional 40,447 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Relay Therapeutics in the third quarter worth about $256,000. FMR LLC increased its holdings in shares of Relay Therapeutics by 27.4% during the third quarter. FMR LLC now owns 89,772 shares of the company’s stock worth $636,000 after buying an additional 19,296 shares in the last quarter. Ally Bridge Group NY LLC bought a new stake in shares of Relay Therapeutics during the third quarter worth about $4,432,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Relay Therapeutics by 6.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 223,289 shares of the company’s stock worth $1,581,000 after purchasing an additional 13,640 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insider Buying and Selling

In other news, insider Peter Rahmer sold 16,576 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following the completion of the transaction, the insider now owns 308,754 shares of the company’s stock, valued at approximately $1,373,955.30. This represents a 5.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 75,324 shares of the business’s 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 sale, the chief executive officer now owns 883,089 shares in the company, valued at approximately $3,267,429.30. This trade represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 470,152 shares of company stock worth $1,991,157 in the last quarter. 4.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RLAY shares. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a report on Friday, March 7th. The Goldman Sachs Group dropped their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Leerink Partners decreased 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. Finally, Stifel Nicolaus reduced 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

Relay Therapeutics Trading Down 3.4 %

Shares of Relay Therapeutics stock opened at $2.86 on Thursday. The company’s 50-day moving average price is $3.90 and its 200-day moving average price is $5.07. The company has a market cap of $484.83 million, a price-to-earnings ratio of -1.10 and a beta of 1.65. Relay Therapeutics, Inc. has a 12-month low of $2.85 and a 12-month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current 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.