Exome Asset Management LLC Makes New Investment in Relay Therapeutics, Inc. $RLAY

Exome Asset Management LLC acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 1st quarter, Holdings Channel.com reports. The fund acquired 278,302 shares of the company’s stock, valued at approximately $2,769,000.

A number of other institutional investors have also recently modified their holdings of RLAY. Commodore Capital LP acquired a new stake in shares of Relay Therapeutics during the 2nd quarter worth $46,191,000. Spruce Street Capital LP acquired a new position in Relay Therapeutics in the fourth quarter valued at about $25,246,000. Perceptive Advisors LLC bought a new stake in Relay Therapeutics during the fourth quarter worth about $16,101,000. TCG Crossover Management LLC bought a new stake in Relay Therapeutics during the third quarter worth about $9,450,000. Finally, Casdin Capital LLC lifted its position in Relay Therapeutics by 14.7% during 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 during the period. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Stock Up 1.1%

Relay Therapeutics stock opened at $18.64 on Tuesday. Relay Therapeutics, Inc. has a 12-month low of $3.03 and a 12-month high of $20.79. The business’s 50-day moving average price is $16.71 and its two-hundred day moving average price is $12.81. The stock has a market cap of $3.57 billion, a PE ratio of -11.87 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 firm had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. As a group, analysts expect that Relay Therapeutics, Inc. will post -1.57 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total transaction of $954,500.00. Following the sale, the insider owned 225,857 shares of the company’s stock, valued at approximately $4,311,610.13. The trade was a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald A. Bergstrom sold 93,456 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the transaction, the insider owned 418,557 shares of the company’s stock, valued at $7,090,355.58. This trade represents a 18.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 422,912 shares of company stock worth $7,378,537 in the last 90 days. 5.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on RLAY. Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Canaccord Genuity Group started coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They set a “buy” rating and a $29.00 price target for the company. Barclays increased their price target on shares of Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $24.92.

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.