Elmind Capital LP Makes New $27.42 Billion Investment in Relay Therapeutics, Inc. $RLAY

Elmind Capital LP purchased a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,465,279 shares of the company’s stock, valued at approximately $27,415,370,000. Relay Therapeutics makes up about 6.9% of Elmind Capital LP’s investment portfolio, making the stock its 4th biggest holding. Elmind Capital LP owned 0.67% of Relay Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RLAY. Torren Management LLC acquired a new stake in Relay Therapeutics during the 4th quarter worth $30,000. KBC Group NV bought a new stake in shares of Relay Therapeutics in the first quarter worth about $34,000. Allworth Financial LP acquired a new stake in shares of Relay Therapeutics during the second quarter worth about $34,000. Smartleaf Asset Management LLC raised its position in shares of Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after purchasing an additional 3,287 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Relay Therapeutics during the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insider Buying and Selling at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Catinazzo sold 187,163 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the completion of the sale, the chief financial officer directly owned 177,461 shares in the company, valued at approximately $3,011,513.17. This represents a 51.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 409,639 shares of company stock valued at $7,233,399 over the last quarter. Insiders own 5.04% of the company’s stock.

Relay Therapeutics Stock Performance

NASDAQ:RLAY opened at $20.57 on Wednesday. The company has a market cap of $4.51 billion, a PE ratio of -13.10 and a beta of 1.69. Relay Therapeutics, Inc. has a 52-week low of $3.44 and a 52-week high of $21.27. The stock has a 50-day simple moving average of $19.07 and a 200 day simple moving average of $14.56.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, research analysts predict that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RLAY shares. Canaccord Genuity Group assumed coverage on Relay Therapeutics in a research report on Thursday, July 16th. They issued a “buy” rating and a $29.00 price objective for the company. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Oppenheimer upped their price target on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Barclays increased their price objective on shares of Relay Therapeutics from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Citizens Jmp raised their price objective on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Relay Therapeutics currently has an average 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.