EcoR1 Capital LLC Acquires Shares of 1,904,762 Relay Therapeutics, Inc. $RLAY

EcoR1 Capital LLC acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,904,762 shares of the company’s stock, valued at approximately $18,952,000. Relay Therapeutics accounts for about 0.8% of EcoR1 Capital LLC’s investment portfolio, making the stock its 16th biggest holding. EcoR1 Capital LLC owned approximately 0.99% of Relay Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RLAY. KBC Group NV bought a new position in shares of Relay Therapeutics during the first quarter valued at about $34,000. Torren Management LLC purchased a new position in Relay Therapeutics during the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC increased its holdings in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after purchasing an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Relay Therapeutics during the 4th quarter valued at approximately $46,000. Finally, Mirae Asset Global Investments Co. Ltd. raised 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 valued at $71,000 after purchasing an additional 1,757 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

Analyst Ratings Changes

RLAY has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday, July 6th. Wells Fargo & Company upped their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Oppenheimer upped their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Guggenheim raised their price objective on shares of Relay Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $24.92.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value of $943,736.42. Following the completion of the sale, the chief executive officer owned 615,898 shares of the company’s stock, valued at approximately $12,059,282.84. This represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Peter Rahmer sold 50,000 shares of Relay Therapeutics stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total value of $954,500.00. Following the completion of the sale, the insider owned 225,857 shares in the company, valued at $4,311,610.13. This represents a 18.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 422,912 shares of company stock worth $7,378,537. Corporate insiders own 5.04% of the company’s stock.

Relay Therapeutics Stock Up 1.1%

Shares of NASDAQ:RLAY opened at $18.64 on Tuesday. Relay Therapeutics, Inc. has a 52 week low of $3.03 and a 52 week high of $20.79. The stock has a market capitalization of $3.57 billion, a P/E ratio of -11.87 and a beta of 1.67. The firm has a fifty day simple moving average of $16.71 and a two-hundred day simple moving average of $12.81.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share 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, analysts expect that Relay Therapeutics, Inc. will post -1.57 earnings per share for the current year.

Relay Therapeutics Profile

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.