Renaissance Technologies LLC raised its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY – Free Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 673,599 shares of the company’s stock after acquiring an additional 25,700 shares during the quarter. Renaissance Technologies LLC owned about 0.35% of Relay Therapeutics worth $6,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in RLAY. AQR Capital Management LLC boosted its holdings in shares of Relay Therapeutics by 11.9% in the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after acquiring an additional 38,812 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after purchasing an additional 5,238 shares during the period. Millennium Management LLC lifted its holdings in Relay Therapeutics by 14.6% during the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after purchasing an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Relay Therapeutics during the 1st quarter worth about $53,000. Finally, Woodline Partners LP boosted its stake in Relay Therapeutics by 448.4% in the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of Relay Therapeutics in a report on Wednesday, July 8th. They issued an “overweight” rating and a $28.00 price target on the stock. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a report on Tuesday, May 19th. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. The Goldman Sachs Group boosted their price target on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Guggenheim upped their price target 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. 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 stock. According to data from MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $24.92.
Relay Therapeutics Trading Up 4.0%
RLAY stock opened at $19.54 on Wednesday. The company’s 50 day moving average is $17.38 and its 200 day moving average is $13.27. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -12.45 and a beta of 1.69. Relay Therapeutics, Inc. has a 1-year low of $3.03 and a 1-year high of $20.79.
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last announced its earnings results 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 business had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. As a group, sell-side analysts forecast that Relay Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.
Insider Activity at Relay Therapeutics
In other Relay Therapeutics news, insider Peter Rahmer sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the sale, the insider owned 225,857 shares in the company, valued at $4,311,610.13. This trade represents a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the sale, the chief executive officer directly owned 615,898 shares of the company’s stock, valued at approximately $12,059,282.84. This trade represents a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 427,356 shares of company stock worth $7,461,240. Corporate 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.
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