Ieq Capital LLC Takes Position in Relay Therapeutics, Inc. $RLAY

Key Points

• Ieq Capital LLC purchased 126,829 shares of Relay Therapeutics valued at approximately $2.37 million, while institutional investors collectively owned 96.98% of the company.
• Relay Therapeutics shares opened at $20.57, near their 52-week high, despite the company reporting a quarterly loss of $0.41 per share and revenue below analyst expectations.
• Analysts maintain a generally bullish outlook, with a “Moderate Buy” consensus rating and an average price target of $25.92; meanwhile, company insiders sold roughly $7.23 million in stock over the past quarter.

Ieq Capital LLC purchased a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 126,829 shares of the company's stock, valued at approximately $2,373,000. Ieq Capital LLC owned 0.06% of Relay Therapeutics at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Relay Therapeutics in the second quarter worth $286,042,000. Commodore Capital LP purchased a new position in shares of Relay Therapeutics during the 2nd quarter valued at $46,191,000. Casdin Capital LLC grew its stake in shares of Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company's stock worth $110,010,000 after acquiring an additional 1,662,193 shares during the period. Perceptive Advisors LLC increased its holdings 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 acquiring an additional 7,847,896 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Relay Therapeutics by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company's stock valued at $81,990,000 after acquiring an additional 295,701 shares during the period. Hedge funds and other institutional investors own 96.98% of the company's stock.

Insider Activity

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the 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 sale, the chief executive officer directly owned 615,898 shares in the company, valued at $12,059,282.84. This represents a 7.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas Catinazzo sold 1,459 shares of the 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 completion of the sale, the chief financial officer owned 158,285 shares in the company, valued at $2,945,683.85. This represents a 0.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 409,639 shares of company stock worth $7,233,399. Insiders own 5.04% of the company's stock.

Relay Therapeutics Stock Up 4.1%

Shares of NASDAQ RLAY opened at $20.57 on Wednesday. The company has a market cap of $4.51 billion, a P/E ratio of -13.10 and a beta of 1.69. Relay Therapeutics, Inc. has a 52 week low of $3.44 and a 52 week high of $21.27. The business has a 50-day simple moving average of $19.07 and a two-hundred day simple moving average of $14.56.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $0.96 million. Equities research analysts anticipate that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. HC Wainwright upped their price objective on shares of Relay Therapeutics from $28.00 to $29.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Guggenheim reissued a "buy" rating on shares of Relay Therapeutics in a research report on Friday, August 7th. Citizens Jmp upped their price target on shares of Relay Therapeutics from $21.00 to $26.00 and gave the company a "market outperform" rating in a research note on Monday, August 10th. UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group lifted their price objective 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. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Relay Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $25.92.

About Relay Therapeutics

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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