Eversept Partners LP Has $2.69 Million Stock Holdings in Relay Therapeutics, Inc. $RLAY

Key Points

• Eversept Partners reduced its Relay Therapeutics stake by 44.7% in the first quarter, selling 218,432 shares and retaining 270,705 shares worth approximately $2.69 million. Institutional investors and hedge funds collectively own 96.98% of the company.
• Relay Therapeutics shares opened at $18.64, up 1.1%, with the stock trading well above its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.41 per share and revenue of $3 million, missing analyst estimates on both measures.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $24.92; Guggenheim and Barclays recently raised their targets to $26 and $27, respectively.

Eversept Partners LP decreased its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 44.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,705 shares of the company's stock after selling 218,432 shares during the quarter. Eversept Partners LP owned 0.14% of Relay Therapeutics worth $2,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RLAY. Commodore Capital LP acquired a new stake in Relay Therapeutics during the 2nd quarter worth about $46,191,000. Spruce Street Capital LP acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at about $25,246,000. Perceptive Advisors LLC acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at about $16,101,000. TCG Crossover Management LLC purchased a new stake in shares of Relay Therapeutics in the third quarter worth approximately $9,450,000. Finally, Casdin Capital LLC lifted its position in shares of Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company's stock worth $110,010,000 after purchasing an additional 1,662,193 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Stock Up 1.1%

RLAY stock opened at $18.64 on Tuesday. The firm has a 50 day moving average of $16.71 and a two-hundred day moving average of $12.81. Relay Therapeutics, Inc. has a 12 month low of $3.03 and a 12 month high of $20.79. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -11.87 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its 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 during the quarter, compared to the consensus estimate of $5.58 million. On average, research analysts expect that Relay Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 93,456 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was 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 of the company's stock, valued at $7,090,355.58. This represents a 18.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Rahmer sold 50,000 shares of the stock in a transaction that occurred 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 owned 225,857 shares in the company, valued at approximately $4,311,610.13. This trade represents a 18.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 422,912 shares of company stock valued at $7,378,537 over the last 90 days. 5.04% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Guggenheim boosted their price objective on shares of Relay Therapeutics from $22.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Oppenheimer increased their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Citigroup reissued an "outperform" rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. Barclays boosted their price target on shares of Relay Therapeutics from $21.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Relay Therapeutics in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.92.

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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