Elmind Capital LP Buys Shares of 1,465,279 Relay Therapeutics, Inc. $RLAY

Elmind Capital LP bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,465,279 shares of the company’s stock, valued at approximately $27,415,370. Relay Therapeutics accounts for approximately 0.0% of Elmind Capital LP’s investment portfolio, making the stock its 4th largest position. Elmind Capital LP owned about 0.67% of Relay Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RLAY. BlackRock Inc. bought a new stake in Relay Therapeutics in the 2nd quarter valued at $286,042,000. Commodore Capital LP purchased a new position in shares of Relay Therapeutics in the second quarter worth about $46,191,000. Perceptive Advisors LLC increased its stake in shares of Relay Therapeutics by 412.3% in the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after acquiring an additional 7,847,896 shares in the last quarter. Spruce Street Capital LP purchased a new stake in Relay Therapeutics during the fourth quarter valued at $25,246,000. Finally, EcoR1 Capital LLC purchased a new position in Relay Therapeutics during the first quarter valued at $18,952,000. 96.98% of the stock is owned by institutional investors.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 1,459 shares of the company’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 value of $27,151.99. Following the completion of the sale, the chief financial officer owned 158,285 shares in the company, valued at approximately $2,945,683.85. This represents a 0.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 that occurred 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 sale, the chief executive officer directly owned 615,898 shares in the company, valued at $12,059,282.84. This trade represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 6,409,639 shares of company stock valued at $123,633,399. Company insiders own 5.04% of the company’s stock.

Relay Therapeutics Stock Down 2.9%

NASDAQ RLAY traded down $0.57 during trading hours on Friday, reaching $18.85. The company’s stock had a trading volume of 1,932,340 shares, compared to its average volume of 3,163,224. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -12.01 and a beta of 1.69. Relay Therapeutics, Inc. has a 1 year low of $3.52 and a 1 year high of $21.27. The firm’s 50-day moving average price is $19.21 and its 200-day moving average price is $14.71.

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 business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. Equities research analysts anticipate that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RLAY shares. Wall Street Zen downgraded Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Citigroup reiterated a “market outperform” rating on shares of Relay Therapeutics in a report on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday, July 6th. Zacks Research upgraded shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Finally, HC Wainwright raised their target price on shares of Relay Therapeutics from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average target price 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.