Handelsbanken Fonder AB Acquires Shares of 59,100 Relay Therapeutics, Inc. $RLAY

Handelsbanken Fonder AB purchased a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 59,100 shares of the company’s stock, valued at approximately $1,106,000.

Other hedge funds have also bought and sold shares of the company. Commodore Capital LP purchased a new stake in Relay Therapeutics during the 2nd quarter valued at $46,191,000. Perceptive Advisors LLC raised its holdings in Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after acquiring an additional 7,847,896 shares during the period. Spruce Street Capital LP bought a new stake in Relay Therapeutics during the 4th quarter valued at approximately $25,246,000. EcoR1 Capital LLC bought a new stake in shares of Relay Therapeutics during the first quarter valued at approximately $18,952,000. Finally, TCG Crossover Management LLC purchased a new stake in Relay Therapeutics in the 3rd quarter worth $9,450,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 0.3%

Relay Therapeutics stock opened at $20.61 on Wednesday. Relay Therapeutics, Inc. has a 52 week low of $3.31 and a 52 week high of $20.99. The stock has a 50-day moving average price of $18.51 and a 200 day moving average price of $14.14. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of -13.13 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share 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 analysts’ expectations of $0.96 million. Research analysts anticipate that Relay Therapeutics, Inc. will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Thomas Catinazzo sold 1,459 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $27,151.99. Following the sale, the chief financial officer owned 158,285 shares of the company’s stock, valued at $2,945,683.85. This trade represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Donald A. Bergstrom sold 2,237 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $41,630.57. Following the sale, the insider owned 407,660 shares in the company, valued at approximately $7,586,552.60. This represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 409,639 shares of company stock worth $7,233,399. 5.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RLAY has been the topic of several recent research reports. Oppenheimer upped their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Citigroup reissued a “market outperform” rating on shares of Relay Therapeutics in a research note on Monday, August 10th. Zacks Research lowered shares of Relay Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Wall Street Zen lowered Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, JPMorgan Chase & Co. increased their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.83.

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.