400,000 Shares in Relay Therapeutics, Inc. $RLAY Purchased by Affinity Asset Advisors LLC

Key Points

• Affinity Asset Advisors bought a new stake in Relay Therapeutics during the first quarter, purchasing 400,000 shares worth about $3.98 million.
• Several other institutional investors also adjusted their positions, and institutions now own 96.98% of the company, while insiders hold about 5.04%.
• Relay Therapeutics recently reported a quarterly earnings miss and revenue below expectations, though analysts remain generally positive with a Moderate Buy consensus and an average price target of $24.92.

Affinity Asset Advisors LLC purchased a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 400,000 shares of the company's stock, valued at approximately $3,980,000. Affinity Asset Advisors LLC owned approximately 0.21% of Relay Therapeutics as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of RLAY. Commodore Capital LP bought a new position in shares of Relay Therapeutics in the 2nd quarter worth $46,191,000. Casdin Capital LLC raised 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 valued at $110,010,000 after purchasing an additional 1,662,193 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 purchasing an additional 295,701 shares during the last quarter. Bellevue Group AG lifted its stake in Relay Therapeutics by 1.4% during the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company's stock worth $43,564,000 after purchasing an additional 114,740 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of 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 purchasing an additional 1,360,121 shares in the last quarter. Institutional investors own 96.98% of the company's stock.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 93,456 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total value of $1,583,144.64. Following the completion of the transaction, the insider owned 418,557 shares in the company, valued at approximately $7,090,355.58. This represents a 18.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Rahmer sold 50,000 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 225,857 shares of the company's stock, valued at $4,311,610.13. This represents a 18.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 426,127 shares of company stock worth $7,426,087. 5.04% of the stock is owned by company insiders.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY opened at $18.44 on Friday. Relay Therapeutics, Inc. has a 1 year low of $3.03 and a 1 year high of $20.79. The stock has a market capitalization of $3.53 billion, a P/E ratio of -11.75 and a beta of 1.67. The company's 50-day moving average is $16.58 and its 200 day moving average is $12.70.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. Research analysts anticipate that Relay Therapeutics, Inc. will post -1.57 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on RLAY shares. Oppenheimer boosted their target price on Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. initiated coverage on shares of Relay Therapeutics in a research report on Wednesday, July 8th. They set an "overweight" rating and a $28.00 price target on the stock. Citigroup reissued an "outperform" rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Relay Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Finally, Guggenheim upped their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Relay Therapeutics presently has an average rating of "Moderate Buy" and an average 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.

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