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

Victory Capital Management Inc. increased its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 11.2% during the 2nd quarter, Holdings Channel reports. The fund owned 76,539 shares of the company’s stock after purchasing an additional 7,680 shares during the quarter. Victory Capital Management Inc.’s holdings in Relay Therapeutics were worth $499,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Relay Therapeutics in the first quarter valued at $79,000. Virtu Financial LLC acquired a new stake in shares of Relay Therapeutics in the first quarter valued at $87,000. Quest Partners LLC acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at $147,000. Los Angeles Capital Management LLC raised its stake in shares of Relay Therapeutics by 25.7% in the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after acquiring an additional 2,850 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Relay Therapeutics in the first quarter valued at $127,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Stock Performance

Shares of RLAY stock opened at $7.50 on Monday. The stock’s 50-day moving average is $7.59 and its two-hundred day moving average is $7.29. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -2.84 and a beta of 1.64. Relay Therapeutics, Inc. has a 1 year low of $5.70 and a 1 year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the previous year, the business posted ($0.81) EPS. As a group, research analysts predict that Relay Therapeutics, Inc. will post -2.86 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on RLAY shares. Barclays increased their target price on Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a report on Tuesday, September 17th. The Goldman Sachs Group started 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. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their target price on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.11.

Insider Buying and Selling

In related news, insider Peter Rahmer sold 13,708 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Peter Rahmer sold 13,708 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas Catinazzo sold 9,373 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $6.24, for a total value of $58,487.52. Following the transaction, the chief financial officer now directly owns 330,430 shares in the company, valued at approximately $2,061,883.20. The disclosure for this sale can be found here. Insiders have sold a total of 84,738 shares of company stock valued at $715,499 over the last quarter. 4.32% of the stock is currently owned by insiders.

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.