Elmind Capital LP Buys Shares of 536,946 Relay Therapeutics, Inc. $RLAY

Elmind Capital LP bought a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 536,946 shares of the company’s stock, valued at approximately $4,543,000. Relay Therapeutics makes up approximately 1.3% of Elmind Capital LP’s holdings, making the stock its 20th largest holding. Elmind Capital LP owned 0.31% of Relay Therapeutics at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RLAY. Engineers Gate Manager LP acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at about $663,000. Eversept Partners LP grew its position in shares of Relay Therapeutics by 2.1% in the fourth quarter. Eversept Partners LP now owns 489,137 shares of the company’s stock valued at $4,138,000 after purchasing an additional 10,081 shares during the last quarter. Casdin Capital LLC grew its position in shares of Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after purchasing an additional 1,662,193 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of Relay Therapeutics by 15.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,099,912 shares of the company’s stock valued at $17,765,000 after purchasing an additional 274,941 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at about $523,000. 96.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62. Following the sale, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at $2,509,989.08. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 40,449 shares of company stock worth $532,889 over the last 90 days. 5.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Wednesday, April 8th. Guggenheim raised their price target on Relay Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Oppenheimer raised their price target on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group raised their price target on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, UBS Group set a $26.00 price target on Relay Therapeutics in a research report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Relay Therapeutics presently has an average rating of “Buy” and a consensus price target of $23.30.

Relay Therapeutics Stock Up 3.4%

RLAY stock opened at $15.56 on Thursday. Relay Therapeutics, Inc. has a twelve month low of $2.98 and a twelve month high of $17.47. The company has a market cap of $2.98 billion, a PE ratio of -9.91 and a beta of 1.75. The business’s 50-day simple moving average is $14.17 and its 200 day simple moving average is $10.72.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. On average, equities research analysts anticipate that Relay Therapeutics, Inc. will post -1.55 EPS for the current year.

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.