Swiss National Bank Buys 3,800 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Swiss National Bank grew its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Rating) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,700 shares of the company’s stock after buying an additional 3,800 shares during the period. Swiss National Bank’s holdings in Relay Therapeutics were worth $2,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RLAY. ProShare Advisors LLC lifted its holdings in shares of Relay Therapeutics by 3.2% during the 3rd quarter. ProShare Advisors LLC now owns 17,595 shares of the company’s stock valued at $394,000 after purchasing an additional 538 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Relay Therapeutics by 48.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,494 shares of the company’s stock valued at $79,000 after purchasing an additional 819 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Relay Therapeutics by 12.7% during the 1st quarter. Vontobel Holding Ltd. now owns 7,413 shares of the company’s stock valued at $222,000 after purchasing an additional 833 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Relay Therapeutics by 198.6% during the 3rd quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock valued at $29,000 after purchasing an additional 856 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Relay Therapeutics by 12.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,897 shares of the company’s stock valued at $149,000 after purchasing an additional 1,010 shares in the last quarter.

Analyst Ratings Changes

Several research firms have commented on RLAY. JPMorgan Chase & Co. cut their target price on Relay Therapeutics from $42.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. Jefferies Financial Group upgraded Relay Therapeutics from an “underperform” rating to a “hold” rating and cut their target price for the company from $16.00 to $12.50 in a research note on Thursday, April 20th. Raymond James upgraded Relay Therapeutics from an “outperform” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, April 19th. HC Wainwright boosted their target price on Relay Therapeutics from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, March 7th. Finally, Barclays lowered their price target on Relay Therapeutics from $23.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.25.

Relay Therapeutics Trading Up 5.4 %

RLAY stock opened at $11.70 on Wednesday. The firm has a market capitalization of $1.42 billion, a PE ratio of -4.16 and a beta of 1.30. Relay Therapeutics, Inc. has a 1-year low of $9.67 and a 1-year high of $33.06. The business’s 50 day simple moving average is $13.75 and its 200 day simple moving average is $16.55.

Relay Therapeutics (NASDAQ:RLAY – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.08). Relay Therapeutics had a negative return on equity of 35.73% and a negative net margin of 27,163.46%. The firm had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.16 million. During the same period last year, the company posted ($0.61) EPS. The business’s revenue was down 46.1% on a year-over-year basis. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -3.23 EPS for the current fiscal year.

About Relay Therapeutics

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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 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.