Charles Schwab Investment Management Inc. Has $7.33 Million Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

Charles Schwab Investment Management Inc. raised its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 26.1% in the third quarter, Holdings Channel.com reports. The firm owned 1,035,789 shares of the company’s stock after buying an additional 214,398 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Relay Therapeutics were worth $7,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Logos Global Management LP purchased a new position in Relay Therapeutics during the second quarter worth about $8,476,000. First Turn Management LLC bought a new position in shares of Relay Therapeutics during the 3rd quarter worth approximately $8,683,000. Millennium Management LLC boosted its stake in shares of Relay Therapeutics by 404.2% in the 2nd quarter. Millennium Management LLC now owns 1,149,177 shares of the company’s stock worth $7,493,000 after buying an additional 921,271 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Relay Therapeutics by 19.1% in the second quarter. Renaissance Technologies LLC now owns 909,037 shares of the company’s stock valued at $5,927,000 after acquiring an additional 145,837 shares in the last quarter. Finally, Integral Health Asset Management LLC increased its position in shares of Relay Therapeutics by 3.4% during the second quarter. Integral Health Asset Management LLC now owns 750,000 shares of the company’s stock valued at $4,890,000 after acquiring an additional 25,000 shares during the last quarter. 96.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Stifel Nicolaus restated a “buy” rating and set a $28.00 price target on shares of Relay Therapeutics in a research note on Monday, September 16th. HC Wainwright dropped their price objective on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group initiated coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.50.

Relay Therapeutics Trading Up 12.4 %

Shares of NASDAQ:RLAY opened at $4.98 on Thursday. The stock has a fifty day simple moving average of $5.69 and a two-hundred day simple moving average of $6.73. Relay Therapeutics, Inc. has a 12-month low of $4.25 and a 12-month high of $12.14. The stock has a market capitalization of $833.57 million, a price-to-earnings ratio of -1.74 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same period in the previous year, the company earned ($0.54) EPS. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. As a group, equities research analysts predict that Relay Therapeutics, Inc. will post -2.56 EPS for the current year.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following 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 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.32% of the stock is currently owned by corporate insiders.

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.