J. Goldman & Co LP acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY – Free Report) in the 2nd quarter, Holdings Channel reports. The fund acquired 56,569 shares of the company’s stock, valued at approximately $1,058,000.
A number of other hedge funds have also recently bought and sold shares of RLAY. ADAR1 Capital Management LLC acquired a new position in Relay Therapeutics in the second quarter worth approximately $6,704,000. Legal & General Group Plc purchased a new position in Relay Therapeutics during the 2nd quarter valued at about $2,389,000. The Manufacturers Life Insurance Company acquired a new position in shares of Relay Therapeutics in the 2nd quarter valued at about $4,930,000. Brandywine Managers LLC acquired a new position in shares of Relay Therapeutics in the 2nd quarter valued at about $719,000. Finally, Spruce Street Capital LP purchased a new stake in shares of Relay Therapeutics in the second quarter worth approximately $55,832,979,000. 96.98% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Relay Therapeutics
In other Relay Therapeutics news, CFO Thomas Catinazzo sold 187,163 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.97, for a total value of $3,176,156.11. Following the completion of the transaction, the chief financial officer directly owned 177,461 shares of the company’s stock, valued at approximately $3,011,513.17. The trade was a 51.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 48,199 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the transaction, the chief executive officer owned 615,898 shares of the company’s stock, valued at $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 three months, insiders sold 409,639 shares of company stock valued at $7,233,399. Insiders own 5.04% of the company’s stock.
Relay Therapeutics Stock Performance
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The firm had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. As a group, sell-side analysts anticipate that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.
Analyst Ratings Changes
RLAY has been the subject of several recent research reports. Zacks Research upgraded Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Citigroup reissued a “market outperform” rating on shares of Relay Therapeutics in a research report on Monday, August 10th. The Goldman Sachs Group boosted their price objective on Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Finally, JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.
View Our Latest Analysis 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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