Renaissance Technologies LLC Boosts Holdings in Relay Therapeutics, Inc. $RLAY

Renaissance Technologies LLC lifted its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 4.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 673,599 shares of the company’s stock after acquiring an additional 25,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Relay Therapeutics were worth $6,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Torren Management LLC purchased a new position in Relay Therapeutics in the 4th quarter worth $30,000. KBC Group NV bought a new position in shares of Relay Therapeutics during the first quarter valued at about $34,000. Smartleaf Asset Management LLC increased its holdings in shares of Relay Therapeutics by 288.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after buying an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Relay Therapeutics in the 4th quarter valued at about $46,000. Finally, Captrust Financial Advisors bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at about $49,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Trading Up 4.0%

NASDAQ:RLAY opened at $19.54 on Wednesday. The company has a 50-day moving average price of $17.38 and a 200-day moving average price of $13.27. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -12.45 and a beta of 1.69. Relay Therapeutics, Inc. has a 12 month low of $3.03 and a 12 month high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The company had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. Equities analysts forecast that Relay Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the company’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 transaction, the chief executive officer owned 615,898 shares in the company, valued at approximately $12,059,282.84. This represents a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Catinazzo sold 1,459 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total value of $27,151.99. Following the completion of the transaction, the chief financial officer directly owned 158,285 shares of the company’s stock, valued at $2,945,683.85. This represents a 0.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 427,356 shares of company stock valued at $7,461,240. Insiders own 5.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RLAY shares. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Citizens Jmp raised their target price on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 20th. The Goldman Sachs Group lifted their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Barclays increased their price target on shares of Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Finally, Oppenheimer boosted their price objective on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.