UBS Group AG Boosts Stock Position in Relay Therapeutics, Inc. $RLAY

UBS Group AG increased its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 94.4% in the fourth quarter, HoldingsChannel reports. The firm owned 296,017 shares of the company’s stock after buying an additional 143,764 shares during the quarter. UBS Group AG’s holdings in Relay Therapeutics were worth $2,504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Relay Therapeutics by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after purchasing an additional 1,757 shares in the last quarter. Abel Hall LLC purchased a new stake in Relay Therapeutics in the 3rd quarter valued at about $58,000. Mercer Global Advisors Inc. ADV purchased a new stake in Relay Therapeutics in the 3rd quarter valued at about $68,000. 49 Wealth Management LLC purchased a new stake in Relay Therapeutics in the 3rd quarter valued at about $68,000. Finally, Captrust Financial Advisors purchased a new stake in Relay Therapeutics in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on RLAY shares. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Wall Street Zen lowered Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Wells Fargo & Company lifted their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Citigroup reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. Finally, Oppenheimer lifted their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Relay Therapeutics has an average rating of “Buy” and an average target price of $23.30.

Relay Therapeutics Price Performance

NASDAQ RLAY opened at $14.17 on Wednesday. The business’s 50-day simple moving average is $12.87 and its 200-day simple moving average is $9.85. The firm has a market capitalization of $2.71 billion, a P/E ratio of -9.03 and a beta of 1.74. Relay Therapeutics, Inc. has a 1-year low of $2.83 and a 1-year high of $17.32.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The company had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $5.58 million. On average, equities research analysts expect that Relay Therapeutics, Inc. will post -1.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62. Following the transaction, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at approximately $2,509,989.08. The trade was a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 40,449 shares of company stock worth $532,889. Insiders own 5.04% of the company’s stock.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.