Pictet Asset Management Holding SA Sells 93,547 Shares of Relay Therapeutics, Inc. $RLAY

Pictet Asset Management Holding SA lessened its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 4.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,983,750 shares of the company’s stock after selling 93,547 shares during the period. Pictet Asset Management Holding SA’s holdings in Relay Therapeutics were worth $35,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of Relay Therapeutics by 108.3% in the third quarter. GAMMA Investing LLC now owns 2,850 shares of the company’s stock worth $51,000 after buying an additional 1,482 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Relay Therapeutics by 1.1% during the 1st quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock valued at $1,431,000 after buying an additional 1,588 shares in the last quarter. Allworth Financial LP bought a new position in shares of Relay Therapeutics during the 2nd quarter valued at approximately $34,000. ProShare Advisors LLC grew its stake in shares of Relay Therapeutics by 8.0% during the 3rd quarter. ProShare Advisors LLC now owns 30,462 shares of the company’s stock valued at $550,000 after acquiring an additional 2,265 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Relay Therapeutics in the 2nd quarter worth approximately $62,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on RLAY shares. Citizens Jmp raised their target price on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Monday, August 10th. Guggenheim reiterated a “buy” rating on shares of Relay Therapeutics in a research report on Friday, August 7th. Canaccord Genuity Group started coverage on shares of Relay Therapeutics in a research note on Thursday, July 16th. They issued a “buy” rating and a $29.00 price objective for the company. HC Wainwright raised their price objective on shares of Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.00.

Relay Therapeutics Stock Performance

RLAY stock opened at $19.96 on Wednesday. Relay Therapeutics, Inc. has a one year low of $5.95 and a one year high of $21.27. The company’s fifty day moving average price is $18.38 and its 200-day moving average price is $15.32. The company has a market capitalization of $4.41 billion, a PE ratio of -13.22 and a beta of 1.74.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.03. On average, research analysts predict that Relay Therapeutics, Inc. will post -1.60 EPS for the current fiscal year.

Insider Transactions at Relay Therapeutics

In related news, insider Donald Bergstrom sold 8,530 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $18.97, for a total value of $161,814.10. Following the sale, the insider owned 399,130 shares in the company, valued at approximately $7,571,496.10. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 17,717 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $18.59, for a total transaction of $329,359.03. Following the sale, the chief financial officer owned 105,134 shares in the company, valued at $1,954,441.06. This represents a 14.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,149,344 shares of company stock valued at $119,185,625 in the last 90 days. Company insiders own 5.04% of the company’s stock.

About Relay Therapeutics

Relay Therapeutics, Inc. is a clinical-stage biotechnology company focused on discovering and developing medicines for patients with serious diseases, with an emphasis on cancer. The company uses its computational drug discovery platform to study how proteins move and interact, aiming to identify drug targets and design therapies against them. Relay’s research combines experimental biology, structural biology and computational methods. Its drug development programs have included candidates targeting cancer-related pathways, such as FGFR2 and PI3K?.