Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. grew its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 65.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,751 shares of the company’s stock after acquiring an additional 10,157 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Relay Therapeutics were worth $182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new stake in Relay Therapeutics during the third quarter worth about $75,000. Allspring Global Investments Holdings LLC boosted its holdings in Relay Therapeutics by 6.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company’s stock valued at $292,000 after purchasing an additional 2,547 shares during the last quarter. SG Americas Securities LLC purchased a new position in Relay Therapeutics in the third quarter valued at about $390,000. Algert Global LLC boosted its holdings in Relay Therapeutics by 57.9% in the second quarter. Algert Global LLC now owns 476,888 shares of the company’s stock valued at $3,109,000 after purchasing an additional 174,953 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Relay Therapeutics by 54.9% in the second quarter. Driehaus Capital Management LLC now owns 616,220 shares of the company’s stock valued at $4,018,000 after purchasing an additional 218,302 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Relay Therapeutics in a report on Monday, October 14th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a report on Tuesday, September 17th. Bank of America raised their price target on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating 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 price target on the stock. Finally, Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.60 to $16.00 in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.11.

Insider Transactions at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was 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 of the company’s stock, valued at $1,856,729.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.32% of the stock is currently owned by insiders.

Relay Therapeutics Stock Performance

Shares of RLAY stock opened at $5.71 on Thursday. Relay Therapeutics, Inc. has a 1 year low of $5.70 and a 1 year high of $12.14. The stock has a market cap of $764.51 million, a PE ratio of -2.27 and a beta of 1.64. The business’s fifty day moving average is $6.93 and its 200-day moving average is $7.03.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period last year, the firm earned ($0.81) earnings per share. Equities research analysts predict that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current 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.