ICONIQ Capital LLC Invests $1.77 Million in Relay Therapeutics, Inc. $RLAY

Posted by Geri Gentry on Aug 24th, 2026

ICONIQ Capital LLC bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 94,697 shares of the company’s stock, valued at approximately $1,772,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Relay Therapeutics by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after purchasing an additional 38,812 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Relay Therapeutics by 6.6% in the first 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 increased its stake in Relay Therapeutics by 14.6% in the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock valued at $7,710,000 after purchasing an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Relay Therapeutics in the first quarter valued at about $53,000. Finally, Woodline Partners LP raised its holdings in shares of Relay Therapeutics by 448.4% in the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after buying an additional 1,241,657 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RLAY shares. Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Wells Fargo & Company upped their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Wall Street Zen cut Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, JPMorgan Chase & Co. lifted their target price on Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $25.92.

Check Out Our Latest Report on Relay Therapeutics

Relay Therapeutics Stock Performance

NASDAQ RLAY opened at $19.44 on Monday. The business’s 50 day moving average is $18.86 and its two-hundred day moving average is $14.40. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of -12.38 and a beta of 1.69. Relay Therapeutics, Inc. has a 12-month low of $3.43 and a 12-month high of $21.27.

Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. Equities analysts forecast that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Key Relay Therapeutics News

Here are the key news stories impacting Relay Therapeutics this week:

Positive Sentiment: HC Wainwright reiterated its Buy rating and $29 price target, implying substantial upside from the stock’s recent level near $19.44. The firm expects continued losses but provided quarterly 2026 and 2027 EPS forecasts ranging from $(0.37) to $(0.41). What is HC Wainwright’s Forecast for RLAY FY2027 Earnings?
Positive Sentiment: Zacks Research upgraded Relay Therapeutics from “Strong Sell” to “Hold,” reducing a significant negative rating overhang, although the revised view remains neutral rather than bullish. Zacks.com
Neutral Sentiment: HC Wainwright’s projections call for FY2026 EPS of $(1.57), Q1 2027 EPS of $(0.39), Q2 2027 EPS of $(0.40), Q3 2027 EPS of $(0.40), and Q4 2027 EPS of $(0.41). The estimates indicate that Relay remains an unprofitable clinical-stage biotechnology company, with investors dependent on pipeline progress and future drug-development milestones.
Negative Sentiment: HC Wainwright lowered its FY2026 EPS forecast from $(1.50) to $(1.57), reduced its Q3 2026 estimate from $(0.36) to $(0.37), and cut its Q4 2026 estimate from $(0.37) to $(0.38). These revisions point to slightly higher expected losses and may be contributing to the stock’s softer performance.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald A. Bergstrom sold 2,237 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $41,630.57. Following the completion of the transaction, the insider directly owned 407,660 shares of the company’s stock, valued at approximately $7,586,552.60. This trade represents a 0.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 409,639 shares of company stock worth $7,233,399 in the last ninety days. Corporate insiders own 5.04% of the company’s stock.

Relay Therapeutics Profile

(Free Report)

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.