Ieq Capital LLC Invests $2.37 Million in Relay Therapeutics, Inc. $RLAY

Ieq Capital LLC acquired a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 126,829 shares of the company’s stock, valued at approximately $2,373,000.

Other hedge funds have also bought and sold shares of the company. Torren Management LLC purchased a new position in Relay Therapeutics in the 4th quarter worth approximately $30,000. KBC Group NV purchased a new stake in shares of Relay Therapeutics during the 1st quarter valued at $34,000. Allworth Financial LP bought a new stake in shares of Relay Therapeutics during the 2nd quarter worth $34,000. Smartleaf Asset Management LLC lifted its holdings in shares of Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after acquiring an additional 3,287 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Relay Therapeutics in the fourth quarter worth $46,000. 96.98% of the stock is currently owned by institutional investors.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 187,163 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.97, for a total value of $3,176,156.11. Following the completion of the transaction, the chief financial officer owned 177,461 shares in the company, valued at $3,011,513.17. This trade represents a 51.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald A. Bergstrom sold 93,456 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $16.94, for a total value of $1,583,144.64. Following the transaction, the insider directly owned 418,557 shares of the company’s stock, valued at $7,090,355.58. This represents a 18.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 409,639 shares of company stock valued at $7,233,399 over the last quarter. Company insiders own 5.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Zacks Research upgraded Relay Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Oppenheimer raised their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. UBS Group set a $26.00 target price on Relay Therapeutics in a research report on Tuesday, May 19th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Relay Therapeutics in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

Relay Therapeutics Stock Up 4.1%

Shares of NASDAQ RLAY opened at $20.57 on Wednesday. The company has a market cap of $4.51 billion, a price-to-earnings ratio of -13.10 and a beta of 1.69. The firm’s fifty day moving average is $19.07 and its 200 day moving average is $14.56. Relay Therapeutics, Inc. has a 52 week low of $3.44 and a 52 week high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results 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 the consensus estimate of $0.96 million. Equities research analysts anticipate that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Relay Therapeutics Company 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.