Relay Therapeutics, Inc. (NASDAQ:RLAY) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 14.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,937 shares of the company’s stock after purchasing an additional 8,937 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.05% of Relay Therapeutics worth $763,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Relay Therapeutics by 52.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,862,960 shares of the company’s stock worth $113,034,000 after acquiring an additional 2,369,956 shares during the period. Morgan Stanley increased its stake in shares of Relay Therapeutics by 592.1% in the fourth quarter. Morgan Stanley now owns 2,369,344 shares of the company’s stock worth $35,398,000 after acquiring an additional 2,027,003 shares during the period. Norges Bank acquired a new stake in shares of Relay Therapeutics in the fourth quarter worth $26,718,000. State Street Corp increased its stake in shares of Relay Therapeutics by 46.9% in the second quarter. State Street Corp now owns 4,778,419 shares of the company’s stock worth $80,039,000 after acquiring an additional 1,524,727 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Relay Therapeutics by 17.8% in the third quarter. Vanguard Group Inc. now owns 8,359,520 shares of the company’s stock worth $187,003,000 after acquiring an additional 1,261,066 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 2.8 %

RLAY opened at $6.83 on Tuesday. The company has a market cap of $895.96 million, a price-to-earnings ratio of -2.44 and a beta of 1.63. Relay Therapeutics, Inc. has a 52-week low of $5.95 and a 52-week high of $18.32. The firm’s fifty day simple moving average is $8.84 and its two-hundred day simple moving average is $8.98.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.09. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.43%. During the same quarter in the prior year, the business earned ($0.56) EPS. On average, research analysts forecast that Relay Therapeutics, Inc. will post -2.84 EPS for the current year.

Wall Street Analyst Weigh In

RLAY has been the topic of a number of research reports. Leerink Partnrs reiterated an “outperform” rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Stifel Nicolaus increased their price target on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $23.69.

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.