California State Teachers Retirement System raised its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY – Free Report) by 47.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 174,099 shares of the company’s stock after acquiring an additional 56,422 shares during the quarter. California State Teachers Retirement System’s holdings in Relay Therapeutics were worth $1,732,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Tudor Investment Corp ET AL acquired a new stake in Relay Therapeutics in the 3rd quarter valued at approximately $399,000. Sanctuary Advisors LLC bought a new position in Relay Therapeutics in the 4th quarter worth approximately $1,203,000. Affinity Asset Advisors LLC acquired a new position in shares of Relay Therapeutics during the first quarter worth approximately $3,980,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Relay Therapeutics during the first quarter worth approximately $6,649,000. Finally, Casdin Capital LLC boosted its position in shares of Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after acquiring an additional 1,662,193 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.
Insider Buying and Selling at Relay Therapeutics
In other news, insider Donald A. Bergstrom sold 2,237 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total value of $41,630.57. Following the completion of the transaction, the insider owned 407,660 shares in the company, valued at approximately $7,586,552.60. This represents a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction, the insider directly owned 225,857 shares of the company’s stock, valued at $4,311,610.13. The trade was a 18.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 409,639 shares of company stock worth $7,233,399 over the last three months. 5.04% of the stock is currently owned by corporate insiders.
Relay Therapeutics Trading Up 0.4%
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.56 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. HC Wainwright upped their target price on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Barclays increased their price target on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Guggenheim restated a “buy” rating on shares of Relay Therapeutics in a research report on Friday, August 7th. Finally, Citizens Jmp boosted their price objective on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.58.
Read Our Latest Stock 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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