EcoR1 Capital LLC acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY – Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,904,762 shares of the company’s stock, valued at approximately $18,952,000. Relay Therapeutics makes up about 0.8% of EcoR1 Capital LLC’s holdings, making the stock its 16th biggest position.
Several other institutional investors have also made changes to their positions in the company. Torren Management LLC acquired a new stake in shares of Relay Therapeutics during the fourth quarter valued at approximately $30,000. KBC Group NV purchased a new position in Relay Therapeutics during the 1st quarter worth approximately $34,000. Smartleaf Asset Management LLC grew its position in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after purchasing an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Relay Therapeutics during the 4th quarter valued at $46,000. Finally, Captrust Financial Advisors acquired a new stake in Relay Therapeutics during the 2nd quarter valued at $49,000. 96.98% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Relay Therapeutics
In related news, insider Peter Rahmer sold 50,000 shares of Relay Therapeutics stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total transaction of $954,500.00. Following the completion of the sale, the insider owned 225,857 shares of the company’s stock, valued at approximately $4,311,610.13. The trade was a 18.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald A. Bergstrom sold 93,456 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the transaction, the insider owned 418,557 shares of the company’s stock, valued at $7,090,355.58. This trade represents a 18.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 422,912 shares of company stock worth $7,378,537 in the last 90 days. Company insiders own 5.04% of the company’s stock.
Relay Therapeutics Price Performance
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. On average, sell-side analysts expect that Relay Therapeutics, Inc. will post -1.57 EPS for the current year.
Analysts Set New Price Targets
Several research analysts recently commented on RLAY shares. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday, July 6th. Canaccord Genuity Group began coverage on Relay Therapeutics in a research report on Thursday, July 16th. They issued a “buy” rating and a $29.00 price objective for the company. Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Finally, JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.92.
Read Our Latest Research Report on RLAY
Relay Therapeutics Company 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.
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