Corebridge Financial Inc. Raises Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Corebridge Financial Inc. raised its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 13.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 60,500 shares of the company’s stock after acquiring an additional 7,314 shares during the period. Corebridge Financial Inc.’s holdings in Relay Therapeutics were worth $249,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its position in shares of Relay Therapeutics by 27.4% during the 3rd quarter. FMR LLC now owns 89,772 shares of the company’s stock valued at $636,000 after purchasing an additional 19,296 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Relay Therapeutics by 6.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 223,289 shares of the company’s stock valued at $1,581,000 after buying an additional 13,640 shares during the last quarter. State Street Corp boosted its holdings in shares of Relay Therapeutics by 1.2% during the third quarter. State Street Corp now owns 4,300,216 shares of the company’s stock worth $30,446,000 after purchasing an additional 51,810 shares during the period. XTX Topco Ltd grew its position in shares of Relay Therapeutics by 27.9% in the 3rd quarter. XTX Topco Ltd now owns 47,271 shares of the company’s stock worth $335,000 after buying an additional 10,311 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Relay Therapeutics during the 3rd quarter valued at $367,000. 96.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a report on Friday, March 7th. Stifel Nicolaus dropped their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group lowered their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.80.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 125,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $4.80, for a total value of $600,000.00. Following the sale, the chief executive officer now owns 324,548 shares in the company, valued at $1,557,830.40. This trade represents a 27.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter Rahmer sold 17,250 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $4.42, for a total transaction of $76,245.00. Following the completion of the transaction, the insider now owns 402,431 shares in the company, valued at $1,778,745.02. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 421,418 shares of company stock valued at $1,775,793 in the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Relay Therapeutics Stock Performance

NASDAQ:RLAY opened at $2.42 on Friday. The stock has a 50-day simple moving average of $3.27 and a two-hundred day simple moving average of $4.56. The firm has a market capitalization of $410.24 million, a PE ratio of -0.93 and a beta of 1.70. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. Equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

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.