Arrowstreet Capital Limited Partnership Buys New Shares in Relay Therapeutics, Inc. $RLAY

Arrowstreet Capital Limited Partnership acquired a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 668,289 shares of the company's stock, valued at approximately $6,649,000. Arrowstreet Capital Limited Partnership owned approximately 0.35% of Relay Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of Relay Therapeutics by 11.9% in the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company's stock valued at $956,000 after buying an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Relay Therapeutics by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company's stock valued at $221,000 after purchasing an additional 5,238 shares during the period. Millennium Management LLC grew its stake in shares of Relay Therapeutics by 14.6% in the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company's stock valued at $7,710,000 after purchasing an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Relay Therapeutics in the 1st quarter worth approximately $53,000. Finally, Woodline Partners LP raised its holdings in shares of Relay Therapeutics by 448.4% in the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company's stock worth $3,979,000 after buying an additional 1,241,657 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

Trending Headlines about Relay Therapeutics

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: Potential earnings catalyst: Zacks expects Relay Therapeutics could exceed consensus expectations in its upcoming quarterly report, which may support near-term investor sentiment. This is only an earnings preview, not a reported result. Relay Therapeutics Expected to Beat Earnings Estimates
• Positive Sentiment: Breast cancer program draws renewed interest: Coverage says Relay’s breast cancer program has revitalized the investment story, potentially expanding the company’s opportunity in oncology. Relay Therapeutics Revitalized by Breast Cancer Program
• Positive Sentiment: Institutional ownership and analyst support remain strong: Several funds increased their positions during the first quarter, and recent analyst targets generally imply additional upside. MarketBeat reports a “Moderate Buy” consensus rating with an average target of $24.92.
• Neutral Sentiment: Second-quarter results are scheduled for August 6: Relay will report financial results and corporate updates after the market close. Investors will likely focus on pipeline progress, cash resources and development plans. Relay Therapeutics Second-Quarter Results Announcement
• Neutral Sentiment: Insider selling was administrative: CFO Thomas Catinazzo and insiders Donald Bergstrom and Peter Rahmer sold a combined 4,444 shares at $18.61 to cover tax withholding on vested equity awards. Each retained substantial holdings, limiting the bearish significance of the transactions. Relay Therapeutics Insider Transactions
• Negative Sentiment: Competition and clinical risk remain material: Relay is still a clinical-stage biotechnology company, and its valuation depends heavily on successful trials and eventual commercialization. Intense competition in breast cancer could limit the program’s upside.

Analyst Ratings Changes

A number of research firms have recently issued reports on RLAY. Oppenheimer lifted their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. HC Wainwright upped their target price on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Canaccord Genuity Group started coverage on shares of Relay Therapeutics in a research report on Thursday, July 16th. They issued a "buy" rating and a $29.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Relay Therapeutics in a report on Monday, July 6th. Finally, JonesTrading upgraded shares of Relay Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $24.92.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics 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 transaction, the chief financial officer owned 177,461 shares in the company, valued at approximately $3,011,513.17. The trade was a 51.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald A. Bergstrom sold 93,456 shares of Relay Therapeutics stock in a transaction on Monday, June 22nd. The shares were 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 427,356 shares of company stock worth $7,461,240 in the last three months. Insiders own 5.04% of the company's stock.

Relay Therapeutics Stock Performance

NASDAQ:RLAY opened at $18.83 on Monday. The stock has a market capitalization of $3.61 billion, a PE ratio of -11.99 and a beta of 1.69. Relay Therapeutics, Inc. has a 12 month low of $3.03 and a 12 month high of $20.79. The firm's 50 day moving average is $17.16 and its 200 day moving average is $13.11.

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

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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