J. Goldman & Co LP Takes Position in Relay Therapeutics, Inc. $RLAY

Key Points

• J. Goldman & Co. LP acquired 56,569 shares of Relay Therapeutics worth approximately $1.06 million during the second quarter. Institutional investors collectively own 96.98% of the company, with BlackRock and Commodore Capital also establishing sizable new positions.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $25.92. Recent firms raised targets to between $29 and $31, although Weiss Ratings maintained a sell rating.
• Relay Therapeutics reported a quarterly loss of $0.41 per share, slightly worse than the $0.39 consensus estimate, while revenue of $0.35 million fell short of expectations. The stock opened at $19.46 and has traded between $3.49 and $21.27 over the past year.

J. Goldman & Co LP bought a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,569 shares of the company's stock, valued at approximately $1,058,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Relay Therapeutics in the 2nd quarter valued at approximately $286,042,000. Commodore Capital LP acquired a new position in shares of Relay Therapeutics in the 2nd quarter valued at $46,191,000. Perceptive Advisors LLC boosted its holdings in Relay Therapeutics by 412.3% in the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company's stock valued at $97,024,000 after acquiring an additional 7,847,896 shares during the last quarter. Spruce Street Capital LP acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at about $25,246,000. Finally, EcoR1 Capital LLC acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at about $18,952,000. Hedge funds and other institutional investors own 96.98% of the company's stock.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 2,237 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total value of $41,630.57. Following the transaction, the insider owned 407,660 shares of the company's stock, valued at $7,586,552.60. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sanjiv Patel sold 48,199 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the sale, the chief executive officer owned 615,898 shares in the company, valued at $12,059,282.84. The trade was a 7.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 409,639 shares of company stock worth $7,233,399 in the last ninety days. Insiders own 5.04% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They issued a "buy" rating and a $29.00 price target on the stock. Raymond James Financial reissued a "strong-buy" rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. JPMorgan Chase & Co. increased their target price on Relay Therapeutics from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Barclays increased their price objective on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $25.92.

Relay Therapeutics Stock Performance

RLAY opened at $19.46 on Thursday. The company has a market capitalization of $4.26 billion, a P/E ratio of -12.39 and a beta of 1.69. Relay Therapeutics, Inc. has a 1-year low of $3.49 and a 1-year high of $21.27. The company has a 50-day moving average of $19.14 and a 200-day moving average of $14.64.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.41) EPS 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 the consensus estimate of $0.96 million. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal 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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