Sanctuary Advisors LLC Makes New $2 Million Investment in Relay Therapeutics, Inc. $RLAY

Key Points

• Sanctuary Advisors acquired 106,632 Relay Therapeutics shares during the second quarter, valued at approximately $2 million. Institutional investors now own 96.98% of the company, with Alphabet and Bank of America also holding sizable positions.
• RLAY shares opened at $19.46, near the 52-week high of $21.27, after rising substantially from the yearly low of $3.49. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $25.92.
• Relay Therapeutics reported a quarterly loss of $0.41 per share, missing the $0.39 consensus estimate, while revenue of $0.35 million fell short of the $0.96 million forecast. Insiders have sold approximately $7.2 million of stock over the past 90 days.

Sanctuary Advisors LLC acquired a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 106,632 shares of the company's stock, valued at approximately $1,995,000.

Several other large investors have also added to or reduced their stakes in the stock. Alphabet Inc. purchased a new position in Relay Therapeutics during the second quarter valued at approximately $26,382,000. California State Teachers Retirement System lifted its stake in Relay Therapeutics by 47.9% in the 1st quarter. California State Teachers Retirement System now owns 174,099 shares of the company's stock worth $1,732,000 after purchasing an additional 56,422 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in Relay Therapeutics in the 2nd quarter valued at $1,323,000. Bank of America Corp DE boosted its holdings in Relay Therapeutics by 86.1% in the 1st quarter. Bank of America Corp DE now owns 1,937,695 shares of the company's stock valued at $19,280,000 after purchasing an additional 896,746 shares during the period. Finally, Handelsbanken Fonder AB purchased a new position in shares of Relay Therapeutics during the 2nd quarter valued at $1,106,000. Institutional investors own 96.98% of the company's stock.

Relay Therapeutics Price Performance

Shares of RLAY opened at $19.46 on Thursday. The firm has a market cap 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 stock has a 50 day simple moving average of $19.14 and a two-hundred day simple moving average of $14.64.

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 analysts' consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. On average, equities analysts anticipate that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 1,459 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total value of $27,151.99. Following the completion of the sale, the chief financial officer owned 158,285 shares of the company's stock, valued at approximately $2,945,683.85. The trade was a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 dated 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 owned 615,898 shares of the company's stock, valued at $12,059,282.84. This represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 409,639 shares of company stock valued at $7,233,399. Corporate insiders own 5.04% of the company's stock.

Wall Street Analysts Forecast Growth

RLAY has been the topic of several research analyst reports. Canaccord Genuity Group started 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. Weiss Ratings restated a "sell (d-)" rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Citigroup restated a "market outperform" rating on shares of Relay Therapeutics in a research note on Monday, August 10th. UBS Group set a $26.00 price target on Relay Therapeutics in a report on Tuesday, May 19th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.92.

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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