The Manufacturers Life Insurance Company Has $2.09 Million Stake in Relay Therapeutics, Inc. $RLAY

The Manufacturers Life Insurance Company raised its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 18.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 209,707 shares of the company’s stock after acquiring an additional 32,221 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of Relay Therapeutics worth $2,087,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RLAY. Commodore Capital LP acquired a new position in shares of Relay Therapeutics in the 2nd quarter valued at about $46,191,000. Casdin Capital LLC increased its holdings in Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after purchasing an additional 1,662,193 shares in the last quarter. Vanguard Group Inc. increased its holdings in Relay Therapeutics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after purchasing an additional 295,701 shares in the last quarter. Bellevue Group AG increased its holdings in Relay Therapeutics by 1.4% in the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock worth $43,564,000 after purchasing an additional 114,740 shares in the last quarter. Finally, State Street Corp lifted its stake in Relay Therapeutics by 26.8% in the fourth quarter. State Street Corp now owns 6,426,111 shares of the company’s stock valued at $54,365,000 after buying an additional 1,360,121 shares during the period. 96.98% of the stock is owned by institutional investors.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock opened at $19.77 on Monday. Relay Therapeutics, Inc. has a 52 week low of $3.03 and a 52 week high of $20.79. The stock has a 50 day moving average price of $17.71 and a two-hundred day moving average price of $13.53. The stock has a market capitalization of $4.33 billion, a PE ratio of -12.59 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last issued 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 during the quarter, compared to the consensus estimate of $0.96 million. Research analysts forecast that Relay Therapeutics, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, 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 value of $41,630.57. Following the transaction, the insider directly owned 407,660 shares of the company’s stock, valued at approximately $7,586,552.60. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 firm’s stock in a transaction 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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 427,356 shares of company stock worth $7,461,240. 5.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RLAY. Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Oppenheimer increased their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Zacks Research cut shares of Relay Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $25.17.

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.