Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 3.5% in the third quarter, HoldingsChannel reports. The fund owned 73,886 shares of the company’s stock after selling 2,653 shares during the period. Victory Capital Management Inc.’s holdings in Relay Therapeutics were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Relay Therapeutics by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock worth $98,070,000 after buying an additional 1,165,282 shares during the period. American International Group Inc. raised its stake in shares of Relay Therapeutics by 4.0% during the 1st quarter. American International Group Inc. now owns 46,686 shares of the company’s stock worth $387,000 after buying an additional 1,810 shares during the period. Virtu Financial LLC acquired a new position in shares of Relay Therapeutics during the 1st quarter worth approximately $87,000. Bank of New York Mellon Corp raised its stake in shares of Relay Therapeutics by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 354,667 shares of the company’s stock worth $2,312,000 after buying an additional 48,219 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Relay Therapeutics by 304.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 38,656 shares of the company’s stock worth $252,000 after buying an additional 29,087 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RLAY shares. Bank of America upped their target price on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. HC Wainwright upped their target price on Relay Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. The Goldman Sachs Group began coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price target for the company. Finally, Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $21.22.

Relay Therapeutics Stock Down 2.1 %

Shares of NASDAQ:RLAY opened at $4.70 on Friday. The business has a fifty day moving average of $6.06 and a two-hundred day moving average of $6.85. The stock has a market cap of $786.69 million, a P/E ratio of -1.80 and a beta of 1.67. Relay Therapeutics, Inc. has a 52-week low of $4.48 and a 52-week high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.14. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.54) earnings per share. On average, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the transaction, the chief financial officer now directly owns 306,391 shares in the company, valued at approximately $1,856,729.46. This represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.