Tudor Investment Corp ET AL Acquires New Shares in Relay Therapeutics, Inc. $RLAY

Key Points

• Tudor Investment Corp bought 76,446 shares (~$399k) in Q3 and Commodore Capital boosted its stake to 17,000,000 shares (~$88.74M); overall about 96.98% of RLAY is held by hedge funds and other institutional investors.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average price target of $18.38, and several firms recently lifted targets (e.g., Barclays to $21, HC Wainwright to $19).
• Insiders have been net sellers (69,651 shares sold in the last 90 days), while the company recently beat quarterly estimates (EPS -$0.32 vs -$0.38; revenue $7.0M vs $4.34M) and the stock trades around $16.11.

Tudor Investment Corp ET AL acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 76,446 shares of the company's stock, valued at approximately $399,000.

Several other institutional investors also recently modified their holdings of the business. Congress Asset Management Co. boosted its position in Relay Therapeutics by 160.9% in the third quarter. Congress Asset Management Co. now owns 408,842 shares of the company's stock worth $2,134,000 after purchasing an additional 252,142 shares during the last quarter. Commodore Capital LP boosted its position in Relay Therapeutics by 27.3% in the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company's stock worth $88,740,000 after purchasing an additional 3,650,000 shares during the last quarter. Mayport LLC purchased a new position in shares of Relay Therapeutics in the third quarter worth approximately $259,000. HighVista Strategies LLC grew its position in Relay Therapeutics by 60.6% during the third quarter. HighVista Strategies LLC now owns 240,459 shares of the company's stock valued at $1,255,000 after buying an additional 90,758 shares during the period. Finally, Jump Financial LLC bought a new stake in Relay Therapeutics during the second quarter valued at approximately $53,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JonesTrading assumed coverage on shares of Relay Therapeutics in a research report on Tuesday. They set a "hold" rating and a $18.00 target price for the company. Barclays boosted their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Oppenheimer reaffirmed an "outperform" rating on shares of Relay Therapeutics in a research note on Monday, March 16th. Wells Fargo & Company raised their price objective on Relay Therapeutics from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 17th. Finally, HC Wainwright raised their price objective on Relay Therapeutics from $14.00 to $19.00 and gave the stock a "buy" rating in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.38.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 1,800 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $15.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer owned 213,867 shares of the company's stock, valued at approximately $3,208,005. This trade represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald A. Bergstrom sold 18,895 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $143,979.90. Following the sale, the insider directly owned 422,733 shares in the company, valued at $3,221,225.46. This trade represents a 4.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 69,651 shares of company stock valued at $644,279. 4.87% of the stock is owned by company insiders.

Relay Therapeutics Trading Up 4.0%

Shares of RLAY opened at $16.11 on Friday. The business's 50 day moving average is $10.66 and its 200 day moving average is $8.49. The company has a market capitalization of $2.88 billion, a PE ratio of -9.94 and a beta of 1.57. Relay Therapeutics, Inc. has a 12-month low of $2.53 and a 12-month high of $16.49.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.06. The business had revenue of $7.00 million for the quarter, compared to the consensus estimate of $4.34 million. Equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share 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.

Want to see what other hedge funds are holding RLAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.