Persistent Asset Partners Ltd Makes New $1.32 Million Investment in Relay Therapeutics, Inc. $RLAY

Key Points

• Persistent Asset Partners acquired 70,693 shares of Relay Therapeutics worth approximately $1.32 million during the second quarter. Institutional investors collectively own 96.98% of the company.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $25.83. Price targets range from $18 to $28, while some firms maintain sell or strong-sell ratings.
• Relay Therapeutics reported a quarterly loss of $0.41 per share, missing estimates by $0.02, while revenue of $350,000 fell short of expectations. Separately, company insiders sold approximately $7.23 million of stock over the past 90 days.

Persistent Asset Partners Ltd acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 70,693 shares of the company's stock, valued at approximately $1,323,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. KBC Group NV acquired a new position in shares of Relay Therapeutics during the 1st quarter worth approximately $34,000. Torren Management LLC acquired a new stake in Relay Therapeutics in the 4th quarter valued at $30,000. Smartleaf Asset Management LLC grew its stake in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company's stock valued at $37,000 after acquiring an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Relay Therapeutics in the 4th quarter worth $46,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 acquiring an additional 1,757 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Sanjiv Patel sold 48,199 shares of the business's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total transaction of $943,736.42. Following the transaction, the chief executive officer owned 615,898 shares of the company's stock, valued at approximately $12,059,282.84. The trade was a 7.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald A. Bergstrom sold 2,237 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $41,630.57. Following the transaction, the insider directly owned 407,660 shares in the company, valued at approximately $7,586,552.60. The trade was a 0.55% decrease in their position. 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. Insiders sold 409,639 shares of company stock valued at $7,233,399 over the last 90 days. Insiders own 5.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Oppenheimer increased their price objective on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Raymond James Financial restated a "strong-buy" rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Relay Therapeutics in a research note on Monday, July 6th. HC Wainwright raised their price target on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Finally, Zacks Research cut Relay Therapeutics from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $25.83.

Relay Therapeutics Price Performance

RLAY stock opened at $19.86 on Monday. Relay Therapeutics, Inc. has a 1 year low of $3.31 and a 1 year high of $20.79. The firm has a market capitalization of $4.35 billion, a PE ratio of -12.65 and a beta of 1.69. The business has a 50 day simple moving average of $18.24 and a 200-day simple moving average of $13.96.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to analysts' expectations of $0.96 million. On average, equities research analysts expect that Relay Therapeutics, Inc. will post -1.58 EPS for the current 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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