Hsbc Holdings PLC Raises Stake in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Hsbc Holdings PLC grew its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 118.3% during the second quarter, Holdings Channel.com reports. The firm owned 41,339 shares of the company’s stock after acquiring an additional 22,400 shares during the period. Hsbc Holdings PLC’s holdings in Relay Therapeutics were worth $257,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC increased its holdings in Relay Therapeutics by 19.1% in the second quarter. Renaissance Technologies LLC now owns 909,037 shares of the company’s stock valued at $5,927,000 after buying an additional 145,837 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Relay Therapeutics by 19.4% in the 2nd quarter. American Century Companies Inc. now owns 178,088 shares of the company’s stock valued at $1,161,000 after acquiring an additional 28,894 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of 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 acquiring an additional 92,230 shares in the last quarter. Candriam S.C.A. lifted its stake in Relay Therapeutics by 38.4% during the second quarter. Candriam S.C.A. now owns 703,429 shares of the company’s stock worth $4,586,000 after purchasing an additional 195,000 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Relay Therapeutics by 11.2% in the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock valued at $499,000 after purchasing an additional 7,680 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY opened at $6.53 on Friday. The stock has a fifty day moving average price of $7.21 and a 200 day moving average price of $7.17. Relay Therapeutics, Inc. has a 1-year low of $5.70 and a 1-year high of $12.14. The company has a market cap of $866.81 million, a PE ratio of -2.47 and a beta of 1.64.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same quarter in the previous year, the company posted ($0.81) earnings per share. Analysts anticipate that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 10,780 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $8.56, for a total transaction of $92,276.80. Following the completion of the transaction, the chief financial officer now directly owns 319,650 shares of the company’s stock, valued at approximately $2,736,204. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Thomas Catinazzo sold 10,780 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $8.56, for a total transaction of $92,276.80. Following the transaction, the chief financial officer now owns 319,650 shares of the company’s stock, valued at $2,736,204. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Peter Rahmer sold 13,523 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $8.54, for a total value of $115,486.42. Following the completion of the sale, the insider now directly owns 420,765 shares of the company’s stock, valued at approximately $3,593,333.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,717 shares of company stock valued at $652,955. 4.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. HC Wainwright boosted their price objective on shares of Relay Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 price target on shares of Relay Therapeutics in a research report on Monday, September 16th. JPMorgan Chase & Co. dropped their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.11.

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.