Perceptive Advisors LLC Boosts Holdings in Relay Therapeutics, Inc. $RLAY

Perceptive Advisors LLC raised its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 412.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,751,141 shares of the company’s stock after purchasing an additional 7,847,896 shares during the period. Relay Therapeutics accounts for 1.9% of Perceptive Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Perceptive Advisors LLC owned about 5.09% of Relay Therapeutics worth $97,024,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Commodore Capital LP bought a new position in shares of Relay Therapeutics in the second quarter worth $46,191,000. Casdin Capital LLC grew its position in Relay Therapeutics by 14.7% during the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after buying an additional 1,662,193 shares in the last quarter. Vanguard Group Inc. grew its position in Relay Therapeutics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after buying an additional 295,701 shares in the last quarter. Bellevue Group AG increased its stake in Relay Therapeutics by 1.4% in the 3rd quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock worth $43,564,000 after acquiring an additional 114,740 shares during the last quarter. Finally, State Street Corp increased its stake in Relay Therapeutics by 26.8% in the 4th quarter. State Street Corp now owns 6,426,111 shares of the company’s stock worth $54,365,000 after acquiring an additional 1,360,121 shares during the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Key Relay Therapeutics News

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

• Positive Sentiment: Potential earnings catalyst: Zacks expects Relay Therapeutics could exceed consensus expectations in its upcoming quarterly report, which may support near-term investor sentiment. This is only an earnings preview, not a reported result. Relay Therapeutics Expected to Beat Earnings Estimates
• Positive Sentiment: Breast cancer program draws renewed interest: Coverage says Relay’s breast cancer program has revitalized the investment story, potentially expanding the company’s opportunity in oncology. Relay Therapeutics Revitalized by Breast Cancer Program
• Positive Sentiment: Institutional ownership and analyst support remain strong: Several funds increased their positions during the first quarter, and recent analyst targets generally imply additional upside. MarketBeat reports a “Moderate Buy” consensus rating with an average target of $24.92.
• Neutral Sentiment: Second-quarter results are scheduled for August 6: Relay will report financial results and corporate updates after the market close. Investors will likely focus on pipeline progress, cash resources and development plans. Relay Therapeutics Second-Quarter Results Announcement
• Neutral Sentiment: Insider selling was administrative: CFO Thomas Catinazzo and insiders Donald Bergstrom and Peter Rahmer sold a combined 4,444 shares at $18.61 to cover tax withholding on vested equity awards. Each retained substantial holdings, limiting the bearish significance of the transactions. Relay Therapeutics Insider Transactions
• Negative Sentiment: Competition and clinical risk remain material: Relay is still a clinical-stage biotechnology company, and its valuation depends heavily on successful trials and eventual commercialization. Intense competition in breast cancer could limit the program’s upside.

Relay Therapeutics Trading Down 3.2%

RLAY opened at $18.83 on Friday. The stock has a market capitalization of $3.61 billion, a P/E ratio of -11.99 and a beta of 1.67. The stock has a 50-day moving average price of $17.16 and a 200-day moving average price of $13.07. Relay Therapeutics, Inc. has a 12-month low of $3.03 and a 12-month high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. On average, equities research analysts predict that Relay Therapeutics, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 187,163 shares of Relay Therapeutics stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the transaction, the chief financial officer directly owned 177,461 shares of the company’s stock, valued at approximately $3,011,513.17. This trade represents a 51.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald A. Bergstrom sold 93,456 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the completion of the sale, the insider owned 418,557 shares of the company’s stock, valued at approximately $7,090,355.58. The trade was a 18.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 427,356 shares of company stock valued at $7,461,240 over the last ninety days. Insiders own 5.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RLAY shares. The Goldman Sachs Group lifted their price target on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Guggenheim raised their target price on shares of Relay Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Zacks Research lowered shares of Relay Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.92.

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.