Relay Therapeutics, Inc. $RLAY Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Relay Therapeutics position by 47.9% in the first quarter, ending with 174,099 shares valued at approximately $1.73 million. Institutional investors collectively own 96.98% of the company.
• Relay Therapeutics reported a quarterly loss of $0.41 per share, missing analyst expectations by $0.02, while revenue of $350,000 fell short of the $960,000 estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $25.58.
• The stock opened at $20.07 and has risen substantially from its one-year low of $3.31, but insiders have recently sold shares totaling $7.23 million over 90 days, including sales by the CEO and another insider.

California State Teachers Retirement System grew its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,099 shares of the company's stock after buying an additional 56,422 shares during the period. California State Teachers Retirement System owned 0.09% of Relay Therapeutics worth $1,732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commodore Capital LP purchased a new stake in shares of Relay Therapeutics during the 2nd quarter valued at approximately $46,191,000. Casdin Capital LLC lifted its holdings in Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company's stock valued at $110,010,000 after acquiring an additional 1,662,193 shares during the last quarter. Vanguard Group Inc. grew its position in Relay Therapeutics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company's stock worth $81,990,000 after acquiring an additional 295,701 shares during the period. Bellevue Group AG grew its position in Relay Therapeutics by 1.4% in the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company's stock worth $43,564,000 after acquiring an additional 114,740 shares during the period. Finally, State Street Corp grew its position in Relay Therapeutics by 26.8% in the fourth quarter. State Street Corp now owns 6,426,111 shares of the company's stock worth $54,365,000 after acquiring an additional 1,360,121 shares during the period. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY opened at $20.07 on Thursday. The stock's 50-day moving average is $18.01 and its two-hundred day moving average is $13.79. Relay Therapeutics, Inc. has a 1-year low of $3.31 and a 1-year high of $20.79. The company has a market cap of $4.40 billion, a price-to-earnings ratio of -12.78 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (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 analyst estimates of $0.96 million. Equities research analysts anticipate that Relay Therapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on RLAY. Weiss Ratings restated a "sell (d-)" rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Citizens Jmp increased their price target on Relay Therapeutics from $21.00 to $26.00 and gave the stock a "market outperform" rating in a report on Monday. JPMorgan Chase & Co. assumed coverage on Relay Therapeutics in a research report on Wednesday, July 8th. They set an "overweight" rating and a $28.00 price objective for the company. Wall Street Zen raised Relay Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Relay Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $25.58.

Insider Activity

In related news, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics 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 completion of the transaction, 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Rahmer sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the transaction, the insider owned 225,857 shares of the company's stock, valued at $4,311,610.13. This trade represents a 18.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 409,639 shares of company stock worth $7,233,399 in the last ninety days. 5.04% of the stock is owned by insiders.

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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