TD Asset Management Inc Has $1.34 Million Stock Position in Relay Therapeutics, Inc. (NASDAQ:RLAY)

TD Asset Management Inc lowered its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 42.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,056 shares of the company’s stock after selling 152,600 shares during the quarter. TD Asset Management Inc’s holdings in Relay Therapeutics were worth $1,343,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. American International Group Inc. grew its position in 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 purchasing an additional 1,810 shares in the last quarter. Congress Asset Management Co. MA raised its position in Relay Therapeutics by 1.4% during the first quarter. Congress Asset Management Co. MA now owns 149,082 shares of the company’s stock valued at $1,237,000 after buying an additional 2,108 shares during the period. Los Angeles Capital Management LLC lifted its stake in Relay Therapeutics by 25.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after acquiring an additional 2,850 shares in the last quarter. ProShare Advisors LLC boosted its position in Relay Therapeutics by 14.9% during the 1st quarter. ProShare Advisors LLC now owns 26,214 shares of the company’s stock worth $218,000 after acquiring an additional 3,394 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Relay Therapeutics by 7.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,917 shares of the company’s stock worth $456,000 after acquiring an additional 3,684 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

NASDAQ RLAY opened at $7.60 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $5.70 and a fifty-two week high of $12.14. The stock’s 50-day moving average is $7.54 and its two-hundred day moving average is $7.39. The firm has a market cap of $1.01 billion, a P/E ratio of -2.88 and a beta of 1.64.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same period last year, the business posted ($0.81) EPS. On average, equities analysts expect that Relay Therapeutics, Inc. will post -2.9 EPS for the current year.

Insider Activity at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the transaction, the chief executive officer now directly owns 766,130 shares in the company, valued at $6,948,799.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Peter Rahmer sold 13,708 shares of the business’s stock in a transaction 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 transaction, the insider now owns 391,929 shares of the company’s stock, valued at $3,209,898.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjiv Patel sold 36,706 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 766,130 shares of the company’s stock, valued at $6,948,799.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,738 shares of company stock worth $715,499. 4.32% of the stock is owned by insiders.

Analyst Ratings Changes

RLAY has been the topic of a number of research reports. The Goldman Sachs Group assumed coverage on Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price on the stock. Bank of America increased their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. JMP Securities reduced their price objective on Relay Therapeutics from $24.00 to $21.00 and set a “market outperform” rating for the company in a research report on Thursday, July 18th. Finally, HC Wainwright lowered their target price on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $21.22.

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.