Relay Therapeutics (NASDAQ:RLAY) Major Shareholder Pauling (Cayman) Ltd Svf Sells 6,000,000 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $19.40, for a total transaction of $116,400,000.00. Following the transaction, the insider owned 21,904,963 shares of the company’s stock, valued at approximately $424,956,282.20. This trade represents a 21.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Relay Therapeutics Trading Down 3.3%

Shares of Relay Therapeutics stock opened at $18.77 on Friday. Relay Therapeutics, Inc. has a twelve month low of $3.52 and a twelve month high of $21.27. The firm has a market capitalization of $4.11 billion, a PE ratio of -11.96 and a beta of 1.69. The firm’s 50-day moving average price is $19.27 and its 200 day moving average price is $14.74.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RLAY. The Goldman Sachs Group raised their price objective on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Monday, July 6th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Zacks Research raised shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.92.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds have recently modified their holdings of the company. Torren Management LLC acquired a new stake in Relay Therapeutics during the fourth quarter worth about $30,000. KBC Group NV acquired a new position in Relay Therapeutics in the 1st quarter valued at about $34,000. Allworth Financial LP acquired a new position in Relay Therapeutics in the 2nd quarter valued at about $34,000. Smartleaf Asset Management LLC grew its stake in shares of 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 period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Relay Therapeutics in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.