Relay Therapeutics, Inc. $RLAY is Casdin Capital LLC’s 6th Largest Position

Casdin Capital LLC cut its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,341,381 shares of the company’s stock after selling 57,193 shares during the quarter. Relay Therapeutics accounts for approximately 4.9% of Casdin Capital LLC’s holdings, making the stock its 6th biggest position. Casdin Capital LLC owned approximately 6.54% of Relay Therapeutics worth $59,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. raised its position in Relay Therapeutics by 130.4% during the 2nd quarter. Franklin Resources Inc. now owns 394,122 shares of the company’s stock worth $1,364,000 after buying an additional 223,042 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of Relay Therapeutics by 160.9% in the third quarter. Congress Asset Management Co. now owns 408,842 shares of the company’s stock valued at $2,134,000 after acquiring an additional 252,142 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Relay Therapeutics by 5.2% in the second quarter. Geode Capital Management LLC now owns 3,229,666 shares of the company’s stock valued at $11,176,000 after acquiring an additional 159,548 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Relay Therapeutics by 16.5% during the second quarter. Acadian Asset Management LLC now owns 794,619 shares of the company’s stock worth $2,747,000 after acquiring an additional 112,591 shares during the period. Finally, Bank of Montreal Can raised its holdings in Relay Therapeutics by 73.6% during the second quarter. Bank of Montreal Can now owns 55,174 shares of the company’s stock worth $191,000 after purchasing an additional 23,396 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Down 1.8%

Shares of RLAY opened at $10.36 on Friday. Relay Therapeutics, Inc. has a 52-week low of $1.77 and a 52-week high of $11.49. The company has a 50-day simple moving average of $8.71 and a 200-day simple moving average of $7.21. The company has a market capitalization of $1.85 billion, a PE ratio of -6.40 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.06. The company had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $4.34 million. On average, research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RLAY shares. Guggenheim raised their price objective on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer upgraded Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a research report on Monday, January 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. Finally, Wells Fargo & Company raised their price target on Relay Therapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.80.

Insider Activity at Relay Therapeutics

In related news, insider Donald A. Bergstrom sold 18,895 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $143,979.90. Following the sale, the insider owned 422,733 shares in the company, valued at $3,221,225.46. This represents a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjiv Patel sold 43,168 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total value of $337,573.76. Following the completion of the transaction, the chief executive officer directly owned 661,041 shares of the company’s stock, valued at $5,169,340.62. The trade was a 6.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 93,302 shares of company stock valued at $724,355 in the last 90 days. Insiders own 4.87% of the company’s stock.

About Relay Therapeutics

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.