Jupiter Topco LLC Makes New Investment in Relay Therapeutics, Inc. $RLAY

Jupiter Topco LLC purchased a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 46,273 shares of the company’s stock, valued at approximately $866,000.

A number of other hedge funds have also modified their holdings of RLAY. Sanctuary Advisors LLC raised its position in shares of Relay Therapeutics by 1.1% during the 1st quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock valued at $1,431,000 after purchasing an additional 1,588 shares during the period. Abel Hall LLC boosted its holdings in Relay Therapeutics by 16.2% in the 4th quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock worth $110,000 after buying an additional 1,809 shares during the period. Allworth Financial LP bought a new position in Relay Therapeutics in the 2nd quarter worth $34,000. Cresset Asset Management LLC increased its stake in Relay Therapeutics by 5.0% in the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after buying an additional 1,848 shares in the last quarter. Finally, Prelude Capital Management LLC increased its stake in Relay Therapeutics by 18.7% in the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock worth $103,000 after buying an additional 3,100 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Relay Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Citizens Jmp lifted their target price on Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research note on Monday, August 10th. The Goldman Sachs Group boosted their price target on Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen cut shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

Insider Activity

In other news, CFO Thomas Catinazzo sold 187,163 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.97, for a total value of $3,176,156.11. Following the sale, the chief financial officer directly owned 177,461 shares in the company, valued at $3,011,513.17. The trade was a 51.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the completion of the transaction, the chief executive officer owned 615,898 shares of the company’s stock, valued at approximately $12,059,282.84. This trade represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 6,414,147 shares of company stock worth $123,723,695. 5.04% of the stock is owned by corporate insiders.

Relay Therapeutics Stock Up 0.2%

Shares of Relay Therapeutics stock opened at $19.04 on Friday. Relay Therapeutics, Inc. has a twelve month low of $3.86 and a twelve month high of $21.27. The business has a 50-day moving average price of $19.36 and a 200-day moving average price of $15.08. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of -12.13 and a beta of 1.69.

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