Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 304.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,656 shares of the company’s stock after purchasing an additional 29,087 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Relay Therapeutics were worth $252,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RLAY. Virtu Financial LLC acquired a new stake in Relay Therapeutics in the first quarter valued at approximately $87,000. Los Angeles Capital Management LLC grew its position in 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. Victory Capital Management Inc. acquired a new stake in Relay Therapeutics in the fourth quarter valued at approximately $126,000. Susquehanna Fundamental Investments LLC acquired a new stake in Relay Therapeutics in the first quarter valued at approximately $127,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Relay Therapeutics in the first quarter valued at approximately $146,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JMP Securities lowered their price objective on shares of 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. JPMorgan Chase & Co. lowered their price objective on shares of Relay Therapeutics from $29.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Barclays lowered their price objective on shares of Relay Therapeutics from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Oppenheimer decreased their price target on shares of Relay Therapeutics from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, HC Wainwright decreased their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $21.67.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 36,706 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.07, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Relay Therapeutics news, CEO Sanjiv Patel sold 36,706 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Catinazzo sold 9,373 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total transaction of $58,487.52. Following the transaction, the chief financial officer now directly owns 330,430 shares of the company’s stock, valued at approximately $2,061,883.20. The disclosure for this sale can be found here. Insiders have sold 84,738 shares of company stock worth $715,499 over the last ninety days. 4.32% of the stock is owned by insiders.

Relay Therapeutics Price Performance

RLAY stock opened at $6.24 on Friday. The firm has a 50 day simple moving average of $7.35 and a 200-day simple moving average of $7.46. Relay Therapeutics, Inc. has a twelve month low of $5.70 and a twelve month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same period in the prior year, the firm earned ($0.81) EPS. On average, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.91 earnings per share for the current fiscal year.

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.