Casdin Capital LLC Has $110.01 Million Stock Position in Relay Therapeutics, Inc. $RLAY

Casdin Capital LLC lifted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 14.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,003,574 shares of the company’s stock after acquiring an additional 1,662,193 shares during the period. Relay Therapeutics makes up about 6.8% of Casdin Capital LLC’s investment portfolio, making the stock its 5th largest position. Casdin Capital LLC owned 0.08% of Relay Therapeutics worth $110,010,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Torren Management LLC acquired a new stake in Relay Therapeutics in the fourth quarter valued at about $30,000. Smartleaf Asset Management LLC raised its position in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after buying an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Relay Therapeutics in the 4th quarter valued at $46,000. Captrust Financial Advisors purchased a new stake in Relay Therapeutics during the 2nd quarter worth about $49,000. Finally, Cerity Partners LLC purchased a new stake in shares of Relay Therapeutics in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RLAY shares. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Barclays lifted their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Oppenheimer lifted their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. HC Wainwright boosted their price target on Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Guggenheim boosted their price target on Relay Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Relay Therapeutics presently has an average rating of “Buy” and an average price target of $23.30.

Relay Therapeutics Stock Up 3.4%

Shares of NASDAQ:RLAY opened at $15.56 on Thursday. The stock has a market cap of $2.98 billion, a P/E ratio of -9.91 and a beta of 1.75. The business’s 50 day moving average is $14.17 and its 200 day moving average is $10.72. Relay Therapeutics, Inc. has a 52-week low of $2.98 and a 52-week high of $17.47.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $5.58 million. On average, sell-side analysts anticipate that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $12.86, for a total value of $227,840.62. Following the sale, the chief financial officer directly owned 195,178 shares in the company, valued at approximately $2,509,989.08. The trade was a 8.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 40,449 shares of company stock worth $532,889. 5.04% of the stock is owned by company insiders.

Relay Therapeutics 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.