15,288,202 Shares in Relay Therapeutics, Inc. $RLAY Bought by BlackRock Inc.

Key Points

• BlackRock acquired 15.29 million Relay Therapeutics shares during the second quarter, worth approximately $286 million and representing about 7.98% of the company. Institutional investors collectively own 96.98% of RLAY.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $25.92; targets cited in the article range as high as $31.
• Relay Therapeutics reported a quarterly loss of $0.41 per share, missing estimates by $0.02, while revenue of $0.35 million fell short of the $0.96 million consensus forecast. Insiders have also sold 409,639 shares worth about $7.23 million over the past 90 days.

BlackRock Inc. purchased a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,288,202 shares of the company's stock, valued at approximately $286,042,000. BlackRock Inc. owned about 7.98% of Relay Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RLAY. Torren Management LLC acquired a new position in Relay Therapeutics in the 4th quarter valued at approximately $30,000. KBC Group NV bought a new stake in shares of Relay Therapeutics during the first quarter valued at approximately $34,000. Smartleaf Asset Management LLC raised its stake in shares of Relay Therapeutics by 288.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company's stock valued at $37,000 after purchasing an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Relay Therapeutics in the fourth quarter valued at $46,000. Finally, Captrust Financial Advisors bought a new position in Relay Therapeutics in the second quarter worth $49,000. Institutional investors own 96.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RLAY shares. Raymond James Financial reiterated a "strong-buy" rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Weiss Ratings reissued a "sell (d-)" rating on shares of Relay Therapeutics in a research note on Monday, July 6th. Canaccord Genuity Group began coverage on Relay Therapeutics in a research note on Thursday, July 16th. They set a "buy" rating and a $29.00 price target on the stock. UBS Group set a $26.00 price target on Relay Therapeutics in a report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Relay Therapeutics from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Relay Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $25.92.

Relay Therapeutics Stock Down 5.4%

RLAY stock opened at $19.46 on Thursday. Relay Therapeutics, Inc. has a 12 month low of $3.49 and a 12 month high of $21.27. The firm has a market cap of $4.26 billion, a P/E ratio of -12.39 and a beta of 1.69. The company's 50-day moving average price is $19.14 and its two-hundred day moving average price is $14.64.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued 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 company had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. Equities analysts predict that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Insider Activity

In related news, CEO Sanjiv Patel sold 48,199 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the sale, the chief executive officer owned 615,898 shares of the company's stock, valued at $12,059,282.84. This trade represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Peter Rahmer sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total value of $954,500.00. Following the transaction, the insider owned 225,857 shares in the company, valued at $4,311,610.13. The trade was a 18.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 409,639 shares of company stock valued at $7,233,399. Company insiders own 5.04% 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.

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