Victory Capital Management Inc. lowered its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,164 shares of the company’s stock after selling 878 shares during the quarter. Victory Capital Management Inc.’s holdings in Relay Therapeutics were worth $248,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Relay Therapeutics by 27.9% in the first quarter. Pacer Advisors Inc. now owns 1,981 shares of the company’s stock valued at $68,000 after acquiring an additional 432 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in Relay Therapeutics in the fourth quarter valued at $85,000. Public Employees Retirement Association of Colorado acquired a new stake in Relay Therapeutics in the fourth quarter valued at $245,000. Virtus ETF Advisers LLC acquired a new stake in Relay Therapeutics in the fourth quarter valued at $280,000. Finally, Principal Financial Group Inc. acquired a new stake in Relay Therapeutics in the fourth quarter valued at $285,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.
NASDAQ:RLAY opened at $34.25 on Friday. Relay Therapeutics, Inc. has a 52 week low of $26.44 and a 52 week high of $64.37. The business’s 50-day simple moving average is $32.32.
In other news, General Counsel Brian Adams sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $35.00, for a total value of $227,500.00. Following the sale, the general counsel now directly owns 32,370 shares in the company, valued at approximately $1,132,950. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald A. Bergstrom sold 56,324 shares of the firm’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $32.36, for a total transaction of $1,822,644.64. Following the completion of the sale, the insider now owns 77,241 shares in the company, valued at $2,499,518.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,824 shares of company stock worth $3,065,145. Insiders own 4.88% of the company’s stock.
Several brokerages have recently weighed in on RLAY. Zacks Investment Research raised shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, June 3rd. JMP Securities increased their price objective on shares of Relay Therapeutics from $50.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, March 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $57.83.
Relay Therapeutics Company Profile
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. The company's lead product candidates include 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; RLY-4008, an oral small molecule selective inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced solid tumors having oncogenic FGFR2 alterations; and RLY-PI3K1047, a lead compound that targets cancer-associated mutant variants of phosphoinositide 3-kinase alpha.
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