Persistent Asset Partners Ltd Invests $1.32 Million in Relay Therapeutics, Inc. $RLAY

Persistent Asset Partners Ltd purchased a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 70,693 shares of the company’s stock, valued at approximately $1,323,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Commodore Capital LP purchased a new position in Relay Therapeutics in the second quarter worth approximately $46,191,000. Perceptive Advisors LLC raised its position in Relay Therapeutics by 412.3% in the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after purchasing an additional 7,847,896 shares during the period. Spruce Street Capital LP purchased a new stake in Relay Therapeutics in the fourth quarter valued at $25,246,000. EcoR1 Capital LLC acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at $18,952,000. Finally, TCG Crossover Management LLC acquired a new position in shares of Relay Therapeutics in the 3rd quarter valued at $9,450,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RLAY. Citizens Jmp increased their price target on Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a report on Monday, August 10th. JonesTrading upgraded shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Guggenheim reaffirmed a “buy” rating on shares of Relay Therapeutics in a research report on Friday, August 7th. Barclays increased their target price on shares of Relay Therapeutics from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday. 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. According to MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 93,456 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider directly owned 418,557 shares in the company, valued at $7,090,355.58. This represents a 18.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjiv Patel sold 48,199 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the sale, the chief executive officer directly owned 615,898 shares in the company, valued at $12,059,282.84. This represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 409,639 shares of company stock valued at $7,233,399. 5.04% of the stock is owned by insiders.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $19.86 on Monday. Relay Therapeutics, Inc. has a twelve month low of $3.31 and a twelve month high of $20.79. The stock has a fifty day simple moving average of $18.24 and a 200-day simple moving average of $13.96. The stock has a market capitalization of $4.35 billion, a PE ratio of -12.65 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $0.96 million. On average, equities analysts predict that Relay Therapeutics, Inc. will post -1.58 earnings per share for the current year.

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.