Allspring Global Investments Holdings LLC Buys 2,547 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Allspring Global Investments Holdings LLC boosted its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,203 shares of the company’s stock after acquiring an additional 2,547 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Relay Therapeutics were worth $292,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RLAY. EverSource Wealth Advisors LLC bought a new stake in Relay Therapeutics in the second quarter valued at approximately $37,000. Virtu Financial LLC bought a new stake in Relay Therapeutics in the first quarter valued at approximately $87,000. Susquehanna Fundamental Investments LLC bought a new stake in Relay Therapeutics in the first quarter valued at approximately $127,000. ProShare Advisors LLC boosted its holdings in Relay Therapeutics by 14.9% in the first quarter. ProShare Advisors LLC now owns 26,214 shares of the company’s stock valued at $218,000 after acquiring an additional 3,394 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Relay Therapeutics by 118.3% in the second quarter. Hsbc Holdings PLC now owns 41,339 shares of the company’s stock valued at $257,000 after acquiring an additional 22,400 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Trading Up 3.6 %

Shares of NASDAQ:RLAY opened at $5.84 on Friday. The stock has a market cap of $781.92 million, a PE ratio of -2.32 and a beta of 1.67. The stock’s fifty day simple moving average is $6.88 and its two-hundred day simple moving average is $7.01. Relay Therapeutics, Inc. has a 1-year low of $5.60 and a 1-year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same quarter in the previous year, the business posted ($0.81) earnings per share. On average, sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RLAY shares. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Relay Therapeutics in a report on Monday, October 14th. JMP Securities restated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a report on Tuesday, September 17th. Bank of America increased their target price on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Barclays increased their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.11.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the sale, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.32% of the company’s stock.

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.