Bellevue Group AG Purchases 709,618 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Bellevue Group AG raised its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 36.7% in the second quarter, HoldingsChannel reports. The firm owned 2,640,962 shares of the company’s stock after buying an additional 709,618 shares during the quarter. Bellevue Group AG’s holdings in Relay Therapeutics were worth $96,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in RLAY. The Manufacturers Life Insurance Company grew its stake in shares of Relay Therapeutics by 26.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,149 shares of the company’s stock valued at $1,213,000 after acquiring an additional 7,020 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Relay Therapeutics by 20.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 167,373 shares of the company’s stock valued at $6,124,000 after acquiring an additional 28,508 shares during the period. Quantitative Systematic Strategies LLC grew its stake in shares of Relay Therapeutics by 23.7% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 8,246 shares of the company’s stock valued at $302,000 after acquiring an additional 1,579 shares during the period. BlackRock Inc. grew its stake in shares of Relay Therapeutics by 19.5% during the 2nd quarter. BlackRock Inc. now owns 4,540,330 shares of the company’s stock valued at $166,131,000 after acquiring an additional 741,600 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Relay Therapeutics by 22.5% during the 2nd quarter. Deutsche Bank AG now owns 38,889 shares of the company’s stock valued at $1,423,000 after acquiring an additional 7,144 shares during the period. Institutional investors and hedge funds own 93.94% of the company’s stock.

In other news, General Counsel Brian Adams sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $35.02, for a total transaction of $227,630.00. Following the sale, the general counsel now directly owns 32,077 shares of the company’s stock, valued at approximately $1,123,336.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Thomas Catinazzo sold 22,500 shares of the company’s stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $35.00, for a total value of $787,500.00. Following the sale, the senior vice president now directly owns 38,077 shares in the company, valued at $1,332,695. The disclosure for this sale can be found here. 4.88% of the stock is owned by corporate insiders.

A number of brokerages recently issued reports on RLAY. Zacks Investment Research downgraded Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, August 19th. HC Wainwright lowered their price target on Relay Therapeutics from $57.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 17th. Finally, Bank of America assumed coverage on Relay Therapeutics in a report on Wednesday, July 21st. They issued a “buy” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.80.

NASDAQ RLAY opened at $36.74 on Monday. The stock’s 50 day moving average is $33.26 and its 200 day moving average is $33.70. Relay Therapeutics, Inc. has a 12 month low of $26.44 and a 12 month high of $64.37.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, August 12th. The company reported ($2.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($1.62). The company had revenue of $0.84 million during the quarter. As a group, equities analysts forecast that Relay Therapeutics, Inc. will post -3.87 earnings per share for the current year.

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. The company's lead product candidates include RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors; RLY-4008, an oral small molecule selective inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced solid tumors having oncogenic FGFR2 alterations; and RLY-PI3K1047, a lead compound that targets cancer-associated mutant variants of phosphoinositide 3-kinase alpha.

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Institutional Ownership by Quarter for Relay Therapeutics (NASDAQ:RLAY)

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