Seven Fleet Capital Management LP Invests $618,000 in Relay Therapeutics, Inc. $RLAY

Seven Fleet Capital Management LP acquired a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 73,000 shares of the company’s stock, valued at approximately $618,000.

A number of other large investors also recently modified their holdings of the company. Commodore Capital LP purchased a new stake in Relay Therapeutics in the 2nd quarter worth $46,191,000. Spruce Street Capital LP purchased a new position in shares of Relay Therapeutics in the fourth quarter valued at about $25,246,000. Perceptive Advisors LLC purchased a new position in shares of Relay Therapeutics in the fourth quarter valued at about $16,101,000. TCG Crossover Management LLC bought a new position in shares of Relay Therapeutics in the third quarter worth about $9,450,000. Finally, Casdin Capital LLC boosted its stake in shares of Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after acquiring an additional 1,662,193 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $12.86, for a total transaction of $227,840.62. Following the completion of the transaction, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at $2,509,989.08. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 40,449 shares of company stock valued at $532,889 in the last ninety days. 5.04% of the stock is owned by company insiders.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $15.88 on Friday. The company has a market cap of $3.04 billion, a PE ratio of -10.11 and a beta of 1.75. Relay Therapeutics, Inc. has a 1 year low of $3.03 and a 1 year high of $17.47. The stock’s 50 day simple moving average is $14.22 and its two-hundred day simple moving average is $10.77.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $5.58 million. Equities research analysts expect that Relay Therapeutics, Inc. will post -1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

RLAY has been the topic of several recent analyst reports. Wall Street Zen raised Relay Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Barclays increased their price objective on shares of Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Citizens Jmp lifted their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 20th. The Goldman Sachs Group boosted their target price on shares of Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Wells Fargo & Company upped their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Relay Therapeutics presently has a consensus rating of “Buy” and an average target price of $23.30.

About Relay Therapeutics

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.