Bank of New York Mellon Corp Purchases 50,190 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Bank of New York Mellon Corp raised its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 328,897 shares of the company’s stock after acquiring an additional 50,190 shares during the period. Bank of New York Mellon Corp’s holdings in Relay Therapeutics were worth $1,355,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Relay Therapeutics during the third quarter worth approximately $63,000. Portland Investment Counsel Inc. bought a new stake in shares of Relay Therapeutics in the third quarter valued at approximately $71,000. Point72 DIFC Ltd bought a new stake in shares of Relay Therapeutics in the third quarter valued at approximately $134,000. Erste Asset Management GmbH bought a new stake in shares of Relay Therapeutics in the third quarter valued at approximately $172,000. Finally, Savant Capital LLC bought a new stake in shares of Relay Therapeutics in the fourth quarter valued at approximately $120,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 5.8 %

Shares of Relay Therapeutics stock opened at $3.06 on Monday. Relay Therapeutics, Inc. has a twelve month low of $3.02 and a twelve month high of $10.72. The stock has a market cap of $518.74 million, a price-to-earnings ratio of -1.17 and a beta of 1.65. The company’s fifty day moving average is $3.98 and its 200 day moving average is $5.13.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.12. As a group, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RLAY has been the subject of several recent research reports. Leerink Partners cut their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. Stifel Nicolaus cut their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group cut their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.80.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 20,791 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total transaction of $91,896.22. Following the sale, the chief financial officer now owns 379,431 shares of the company’s stock, valued at approximately $1,677,085.02. This represents a 5.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Peter Rahmer sold 16,576 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.45, for a total transaction of $73,763.20. Following the sale, the insider now directly owns 308,754 shares in the company, valued at $1,373,955.30. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 470,152 shares of company stock valued at $1,991,157 over the last 90 days. 4.32% of the stock is 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.