The Manufacturers Life Insurance Company Makes New $4.93 Million Investment in Relay Therapeutics, Inc. $RLAY

The Manufacturers Life Insurance Company purchased a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 263,506 shares of the company’s stock, valued at approximately $4,930,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Relay Therapeutics during the second quarter valued at $286,042,000. Commodore Capital LP purchased a new position in Relay Therapeutics in the 2nd quarter worth about $46,191,000. Casdin Capital LLC lifted its stake in Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after acquiring an additional 1,662,193 shares during the period. Perceptive Advisors LLC lifted its stake in Relay Therapeutics by 412.3% during the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after acquiring an additional 7,847,896 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Relay Therapeutics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after acquiring an additional 295,701 shares during the last quarter. 96.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Donald A. Bergstrom sold 93,456 shares of the stock in a transaction dated 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 in the company, valued at approximately $7,090,355.58. This trade represents a 18.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter Rahmer sold 50,000 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total value of $954,500.00. Following the sale, the insider directly owned 225,857 shares in the company, valued at $4,311,610.13. This trade represents a 18.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 6,414,147 shares of company stock valued at $123,723,695. Insiders own 5.04% of the company’s stock.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $18.38 on Tuesday. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -11.71 and a beta of 1.69. Relay Therapeutics, Inc. has a one year low of $3.52 and a one year high of $21.27. The company’s fifty day moving average price is $19.29 and its 200-day moving average price is $14.85.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. Equities research analysts expect that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Relay Therapeutics in a research note on Thursday, July 16th. They issued a “buy” rating and a $29.00 price target for the company. Zacks Research upgraded shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Citigroup reiterated a “market outperform” rating on shares of Relay Therapeutics in a research note on Monday, August 10th. Finally, Citizens Jmp increased their price target on Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.92.

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.