Seven Fleet Capital Management LP Has $3.33 Million Stock Position in Relay Therapeutics, Inc. $RLAY

Key Points

• Seven Fleet Capital Management reduced its Relay Therapeutics stake by 30.9% in the second quarter, selling 79,516 shares and retaining 178,222 shares valued at approximately $3.33 million.
• Relay insiders sold more than 6.4 million shares worth approximately $123.7 million over the past three months, including a 6 million-share sale by major shareholder Pauling (Cayman) Ltd. SVF.
• Relay shares opened at $19.04, while analysts maintained a generally positive outlook with a consensus “Moderate Buy” rating and an average price target of $25.92; however, the company recently missed quarterly EPS and revenue estimates.

Seven Fleet Capital Management LP lessened its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 30.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 178,222 shares of the company's stock after selling 79,516 shares during the period. Seven Fleet Capital Management LP owned 0.08% of Relay Therapeutics worth $3,335,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Allworth Financial LP acquired a new stake in Relay Therapeutics in the second quarter valued at $34,000. Meeder Asset Management Inc. bought a new position in Relay Therapeutics during the 2nd quarter worth $62,000. KBC Group NV acquired a new position in Relay Therapeutics during the 1st quarter worth about $34,000. Smartleaf Asset Management LLC grew its position in shares of 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 buying an additional 3,287 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Relay Therapeutics in the 4th quarter valued at about $46,000. Institutional investors own 96.98% of the company's stock.

Insider Activity

In other news, major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of Relay Therapeutics stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $19.40, for a total value of $116,400,000.00. Following the completion of the sale, the insider owned 21,904,963 shares in the company, valued at $424,956,282.20. The trade was a 21.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sanjiv Patel sold 48,199 shares of the business's stock in a transaction on 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 in the company, valued at $12,059,282.84. The trade was a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 6,414,147 shares of company stock worth $123,723,695. Company insiders own 5.04% of the company's stock.

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY opened at $19.04 on Friday. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of -12.13 and a beta of 1.69. The business's 50-day moving average is $19.36 and its 200-day moving average is $15.08. Relay Therapeutics, Inc. has a 1 year low of $3.86 and a 1 year high of $21.27.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released 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 company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. Analysts anticipate that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Wall Street Analysts Forecast Growth

RLAY has been the subject of several recent research reports. Raymond James Financial reissued a "strong-buy" rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Citigroup reiterated a "market outperform" rating on shares of Relay Therapeutics in a report on Monday, August 10th. Wall Street Zen downgraded shares of Relay Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. The Goldman Sachs Group raised their price target on shares of Relay Therapeutics from $22.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Finally, HC Wainwright boosted their price target on shares of Relay Therapeutics from $28.00 to $29.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $25.92.

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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