Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 33.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 160,458 shares of the company’s stock after purchasing an additional 40,447 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Relay Therapeutics were worth $1,137,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Logos Global Management LP purchased a new stake in Relay Therapeutics during the second quarter worth approximately $8,476,000. Los Angeles Capital Management LLC boosted its position in Relay Therapeutics by 661.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 106,169 shares of the company’s stock worth $692,000 after purchasing an additional 92,230 shares during the period. Renaissance Technologies LLC boosted its position in 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 purchasing an additional 145,837 shares during the period. Driehaus Capital Management LLC increased its holdings in Relay Therapeutics by 54.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 616,220 shares of the company’s stock valued at $4,018,000 after purchasing an additional 218,302 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in Relay Therapeutics by 248.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 53,442 shares of the company’s stock valued at $348,000 after purchasing an additional 38,117 shares during the period. Hedge funds and other 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 Relay Therapeutics stock in a transaction that occurred on Monday, October 28th. The stock was 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 in the company, valued at approximately $1,856,729.46. This trade represents a 2.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

RLAY has been the subject of several analyst reports. Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. HC Wainwright increased their price objective on shares of Relay Therapeutics from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Stifel Nicolaus reiterated a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. The Goldman Sachs Group began coverage on shares of Relay Therapeutics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Bank of America lifted their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.22.

Relay Therapeutics Price Performance

RLAY opened at $4.70 on Monday. Relay Therapeutics, Inc. has a 12-month low of $4.48 and a 12-month high of $12.14. The stock has a market capitalization of $786.70 million, a PE ratio of -1.80 and a beta of 1.67. The firm’s fifty day moving average price is $6.06 and its 200 day moving average price is $6.86.

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 analysts’ consensus estimates of ($0.77) by $0.14. The business’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.54) earnings per share. On average, equities research analysts forecast that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current fiscal 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.