Dimensional Fund Advisors LP Buys 460,186 Shares of Relay Therapeutics, Inc. $RLAY

Key Points

• Dimensional Fund Advisors increased its Relay Therapeutics stake by 18.6%, purchasing 460,186 additional shares to own 2.94 million shares, or approximately 1.54% of the company. Institutional investors collectively own 96.98% of RLAY.
• Relay Therapeutics reported weaker-than-expected quarterly results, with a loss of $0.41 per share versus the $0.35 consensus estimate and revenue of $3.0 million versus expectations of $5.58 million.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $24.92, compared with the stock’s opening price of $19.54. However, company insiders sold 427,356 shares worth approximately $7.46 million over the past three months.

Dimensional Fund Advisors LP lifted its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 18.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,940,536 shares of the company's stock after buying an additional 460,186 shares during the quarter. Dimensional Fund Advisors LP owned about 1.54% of Relay Therapeutics worth $29,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RLAY. KBC Group NV purchased a new stake in Relay Therapeutics in the first quarter worth about $34,000. Torren Management LLC purchased a new position in shares of Relay Therapeutics during the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted its position in shares of Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company's stock worth $37,000 after purchasing an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Relay Therapeutics in the 4th quarter worth approximately $46,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Relay Therapeutics by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company's stock worth $71,000 after buying an additional 1,757 shares during the last quarter. 96.98% of the stock is owned by institutional investors.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 93,456 shares of the stock in a transaction dated 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 transaction, the insider owned 418,557 shares of the company's stock, valued at $7,090,355.58. This represents a 18.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjiv Patel sold 48,199 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value of $943,736.42. Following the transaction, the chief executive officer owned 615,898 shares of the company's stock, valued at $12,059,282.84. This represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 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 Price Performance

Shares of RLAY stock opened at $19.54 on Wednesday. Relay Therapeutics, Inc. has a 1 year low of $3.03 and a 1 year high of $20.79. The firm has a fifty day moving average price of $17.38 and a 200-day moving average price of $13.27. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -12.45 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $5.58 million. Equities research analysts expect that Relay Therapeutics, Inc. will post -1.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RLAY. Wells Fargo & Company raised their price target on Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. HC Wainwright increased their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Raymond James Financial restated a "strong-buy" rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. The Goldman Sachs Group lifted their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Finally, Barclays upped their target price on shares of Relay Therapeutics from $21.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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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