ADAR1 Capital Management LLC Invests $6.70 Million in Relay Therapeutics, Inc. $RLAY

Key Points

• ADAR1 Capital Management initiated a $6.70 million position in Relay Therapeutics, buying 358,333 shares, while institutional investors collectively own 96.98% of the company.
• Relay Therapeutics reported a quarterly loss of $0.41 per share, slightly worse than the $0.39 consensus estimate, and revenue of $0.35 million versus expectations of $0.96 million.
• Analyst sentiment remains positive, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $25.92, above its reported $20.57 share price.

ADAR1 Capital Management LLC bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 358,333 shares of the company's stock, valued at approximately $6,704,000. ADAR1 Capital Management LLC owned about 0.16% of Relay Therapeutics as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RLAY. BlackRock Inc. bought a new stake in Relay Therapeutics during the 2nd quarter valued at approximately $286,042,000. Commodore Capital LP bought a new position in Relay Therapeutics in the 2nd quarter worth approximately $46,191,000. Perceptive Advisors LLC increased its position in Relay Therapeutics by 412.3% in the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company's stock worth $97,024,000 after buying an additional 7,847,896 shares during the period. Spruce Street Capital LP acquired a new position in shares of Relay Therapeutics during the second quarter worth approximately $55,832,979,000. Finally, EcoR1 Capital LLC acquired a new position in shares of Relay Therapeutics during the first quarter worth approximately $18,952,000. 96.98% of the stock is owned by institutional investors.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 2,237 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total transaction of $41,630.57. Following the completion of the sale, the insider directly owned 407,660 shares of the company's stock, valued at approximately $7,586,552.60. The trade was a 0.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Thomas Catinazzo sold 1,459 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total transaction of $27,151.99. Following the sale, the chief financial officer directly owned 158,285 shares of the company's stock, valued at approximately $2,945,683.85. This trade represents a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 409,639 shares of company stock worth $7,233,399. Insiders own 5.04% of the company's stock.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $20.57 on Wednesday. The business has a 50 day simple moving average of $19.07 and a 200 day simple moving average of $14.56. The company has a market capitalization of $4.51 billion, a PE ratio of -13.10 and a beta of 1.69. Relay Therapeutics, Inc. has a one year low of $3.44 and a one year high of $21.27.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted 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 firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. Equities analysts anticipate that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on RLAY. JPMorgan Chase & Co. raised their price objective on shares of Relay Therapeutics from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. The Goldman Sachs Group upped their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Wells Fargo & Company increased their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Barclays raised their price target on shares of Relay Therapeutics from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, Oppenheimer boosted their price objective on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.

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