Moore Capital Management LP Purchases Shares of 414,005 Relay Therapeutics, Inc. $RLAY

Key Points

• Moore Capital Management acquired 414,005 Relay Therapeutics shares worth approximately $7.75 million, while institutional investors collectively own 96.98% of the company.
• Analysts remain broadly positive, with an average “Moderate Buy” rating and a consensus price target of $25.92; several firms recently raised their targets to between $26 and $31.
• Relay Therapeutics reported a quarterly loss of $0.41 per share, slightly worse than the expected $0.39 loss, while revenue of $0.35 million fell short of the $0.96 million consensus estimate.

Moore Capital Management LP acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 414,005 shares of the company's stock, valued at approximately $7,746,000. Moore Capital Management LP owned approximately 0.19% of Relay Therapeutics as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Relay Therapeutics during the 2nd quarter valued at $286,042,000. Commodore Capital LP bought a new stake in Relay Therapeutics during the 2nd quarter valued at approximately $46,191,000. Perceptive Advisors LLC raised its position in shares of Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company's stock valued at $97,024,000 after buying an additional 7,847,896 shares during the last quarter. Spruce Street Capital LP purchased a new stake in Relay Therapeutics during the fourth quarter valued at $25,246,000. Finally, Bank of America Corp DE purchased a new position in shares of Relay Therapeutics in the 2nd quarter worth $50,425,000. 96.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JonesTrading raised shares of Relay Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. HC Wainwright raised their price objective on Relay Therapeutics from $28.00 to $29.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Citizens Jmp lifted their target price on Relay Therapeutics from $21.00 to $26.00 and gave the stock a "market outperform" rating in a report on Monday, August 10th. Barclays increased their price target on Relay Therapeutics from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group increased their target price 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 research 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 given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $25.92.

Relay Therapeutics Stock Performance

Relay Therapeutics stock opened at $18.77 on Monday. Relay Therapeutics, Inc. has a fifty-two week low of $3.52 and a fifty-two week high of $21.27. The company has a market capitalization of $4.11 billion, a PE ratio of -11.96 and a beta of 1.69. The company has a 50 day moving average price of $19.27 and a 200-day moving average price of $14.79.

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 for the quarter, compared to analysts' expectations of $0.96 million. On average, analysts forecast that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Buying and Selling

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 2,237 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $41,630.57. Following the sale, the insider owned 407,660 shares of the company's stock, valued at approximately $7,586,552.60. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Thomas Catinazzo sold 1,459 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $27,151.99. Following the transaction, the chief financial officer owned 158,285 shares in the company, valued at $2,945,683.85. The trade was a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,414,147 shares of company stock worth $123,723,695 over the last ninety days. Company insiders own 5.04% of the company's stock.

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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