Relay Therapeutics, Inc. $RLAY Stake Boosted by Profund Advisors LLC

Profund Advisors LLC grew its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 115.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,586 shares of the company’s stock after acquiring an additional 38,886 shares during the period. Profund Advisors LLC’s holdings in Relay Therapeutics were worth $614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Torren Management LLC purchased a new position in shares of Relay Therapeutics during the 4th quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Relay Therapeutics by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock valued at $71,000 after acquiring an additional 1,757 shares in the last quarter. Abel Hall LLC purchased a new position in shares of Relay Therapeutics during the 3rd quarter valued at $58,000. Duncan Williams Asset Management LLC purchased a new position in shares of Relay Therapeutics during the 4th quarter valued at $100,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Relay Therapeutics during the 4th quarter valued at $109,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Price Performance

NASDAQ RLAY opened at $13.53 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $17.32. The stock’s 50-day moving average is $12.73 and its two-hundred day moving average is $9.73. The firm has a market cap of $2.59 billion, a P/E ratio of -8.62 and a beta of 1.74.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly 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 the consensus estimate of $5.58 million. On average, equities analysts expect that Relay Therapeutics, Inc. will post -1.59 EPS for the current year.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value of $227,840.62. Following the transaction, the chief financial officer 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 40,449 shares of company stock valued at $532,889 over the last 90 days. Company insiders own 5.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RLAY shares. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday. Oppenheimer boosted their price target on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a report on Tuesday. Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday. Finally, Wall Street Zen cut shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $22.60.

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.