Legal & General Group Plc Acquires New Shares in Relay Therapeutics, Inc. $RLAY

Legal & General Group Plc bought a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 127,676 shares of the company’s stock, valued at approximately $2,389,000. Legal & General Group Plc owned approximately 0.06% of Relay Therapeutics at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. KBC Group NV bought a new position in Relay Therapeutics in the 1st quarter valued at approximately $34,000. Allworth Financial LP acquired a new position in shares of Relay Therapeutics during the second quarter worth $34,000. Smartleaf Asset Management LLC lifted its stake in shares of Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after acquiring an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Relay Therapeutics in the 4th quarter valued at $46,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Relay Therapeutics during the 2nd quarter valued at $49,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Stock Performance

Shares of RLAY stock opened at $19.04 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $3.86 and a fifty-two week high of $21.27. The stock has a 50 day simple moving average of $19.36 and a two-hundred day simple moving average of $15.08. The company has a market cap of $4.17 billion, a P/E ratio of -12.13 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $0.96 million. On average, research analysts predict that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on RLAY. HC Wainwright boosted their price objective on Relay Therapeutics from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Canaccord Genuity Group initiated coverage on Relay Therapeutics in a research report on Thursday, July 16th. They issued a “buy” rating and a $29.00 target price for the company. Zacks Research raised Relay Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. UBS Group set a $26.00 price target on Relay Therapeutics in a report on Tuesday, May 19th. Finally, Wall Street Zen downgraded Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.92.

Insider Transactions at Relay Therapeutics

In other news, insider Peter Rahmer sold 4,508 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $20.03, for a total transaction of $90,295.24. Following the transaction, the insider owned 223,657 shares in the company, valued at approximately $4,479,849.71. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $19.40, for a total transaction of $116,400,000.00. Following the transaction, the insider directly owned 21,904,963 shares in the company, valued at $424,956,282.20. This trade represents a 21.50% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 6,414,147 shares of company stock valued at $123,723,695. 5.04% of the stock is owned by insiders.

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.