Seven Fleet Capital Management LP Increases Stock Holdings in Relay Therapeutics, Inc. $RLAY

Seven Fleet Capital Management LP increased its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 253.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 257,738 shares of the company’s stock after purchasing an additional 184,738 shares during the quarter. Relay Therapeutics accounts for 0.8% of Seven Fleet Capital Management LP’s holdings, making the stock its 28th biggest holding. Seven Fleet Capital Management LP’s holdings in Relay Therapeutics were worth $2,564,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sanctuary Advisors LLC lifted its position in Relay Therapeutics by 1.1% in the first quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock worth $1,431,000 after buying an additional 1,588 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Relay Therapeutics by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after buying an additional 1,757 shares during the period. Abel Hall LLC increased its position in Relay Therapeutics by 16.2% during the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock valued at $110,000 after acquiring an additional 1,809 shares during the last quarter. Cresset Asset Management LLC increased its position in Relay Therapeutics by 5.0% during the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock valued at $203,000 after acquiring an additional 1,848 shares during the last quarter. Finally, Prelude Capital Management LLC raised its stake in shares of Relay Therapeutics by 18.7% in the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after acquiring an additional 3,100 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Buying and Selling at Relay Therapeutics

In related news, insider Donald A. Bergstrom sold 2,237 shares of Relay Therapeutics 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 $41,630.57. Following the transaction, the insider directly owned 407,660 shares of the company’s stock, valued at $7,586,552.60. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the transaction, the chief executive officer directly owned 615,898 shares of the company’s stock, valued at $12,059,282.84. This trade represents a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 427,356 shares of company stock worth $7,461,240 over the last quarter. 5.04% of the stock is currently owned by company insiders.

Key Relay Therapeutics News

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: Potential earnings catalyst: Zacks expects Relay Therapeutics could exceed consensus expectations in its upcoming quarterly report, which may support near-term investor sentiment. This is only an earnings preview, not a reported result. Relay Therapeutics Expected to Beat Earnings Estimates
• Positive Sentiment: Breast cancer program draws renewed interest: Coverage says Relay’s breast cancer program has revitalized the investment story, potentially expanding the company’s opportunity in oncology. Relay Therapeutics Revitalized by Breast Cancer Program
• Positive Sentiment: Institutional ownership and analyst support remain strong: Several funds increased their positions during the first quarter, and recent analyst targets generally imply additional upside. MarketBeat reports a “Moderate Buy” consensus rating with an average target of $24.92.
• Neutral Sentiment: Second-quarter results are scheduled for August 6: Relay will report financial results and corporate updates after the market close. Investors will likely focus on pipeline progress, cash resources and development plans. Relay Therapeutics Second-Quarter Results Announcement
• Neutral Sentiment: Insider selling was administrative: CFO Thomas Catinazzo and insiders Donald Bergstrom and Peter Rahmer sold a combined 4,444 shares at $18.61 to cover tax withholding on vested equity awards. Each retained substantial holdings, limiting the bearish significance of the transactions. Relay Therapeutics Insider Transactions
• Negative Sentiment: Competition and clinical risk remain material: Relay is still a clinical-stage biotechnology company, and its valuation depends heavily on successful trials and eventual commercialization. Intense competition in breast cancer could limit the program’s upside.

Wall Street Analysts Forecast Growth

RLAY has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. began coverage on shares of Relay Therapeutics in a report on Wednesday, July 8th. They set an “overweight” rating and a $28.00 price target on the stock. Guggenheim increased their price objective on shares of Relay Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Canaccord Genuity Group began coverage on shares of Relay Therapeutics in a research note on Thursday, July 16th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.92.

Relay Therapeutics Price Performance

NASDAQ:RLAY opened at $18.83 on Friday. Relay Therapeutics, Inc. has a 1-year low of $3.03 and a 1-year high of $20.79. The company has a 50-day moving average of $17.16 and a 200 day moving average of $13.07. The firm has a market cap of $3.61 billion, a PE ratio of -11.99 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last posted 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 business had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. Sell-side analysts anticipate that Relay Therapeutics, Inc. will post -1.57 EPS for the current fiscal 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.