Eversept Partners LP Has $2.69 Million Stake in Relay Therapeutics, Inc. $RLAY

Eversept Partners LP trimmed its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 44.7% in the first quarter, Holdings Channel reports. The fund owned 270,705 shares of the company’s stock after selling 218,432 shares during the quarter. Eversept Partners LP’s holdings in Relay Therapeutics were worth $2,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in RLAY. AQR Capital Management LLC increased its stake in shares of Relay Therapeutics by 11.9% in the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after purchasing an additional 38,812 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after purchasing an additional 5,238 shares during the period. Millennium Management LLC boosted its stake in Relay Therapeutics by 14.6% during the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock valued at $7,710,000 after purchasing an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Relay Therapeutics in the 1st quarter valued at approximately $53,000. Finally, Woodline Partners LP grew its holdings in Relay Therapeutics by 448.4% in the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after buying an additional 1,241,657 shares during the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Barclays increased their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. HC Wainwright boosted their target price on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Citizens Jmp boosted their target price on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 20th. Finally, UBS Group set a $26.00 target price on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.92.

Relay Therapeutics Trading Up 1.1%

Shares of NASDAQ:RLAY opened at $18.64 on Tuesday. The firm has a market capitalization of $3.57 billion, a PE ratio of -11.87 and a beta of 1.67. Relay Therapeutics, Inc. has a 1-year low of $3.03 and a 1-year high of $20.79. The business’s 50 day moving average is $16.71 and its 200-day moving average is $12.81.

Relay Therapeutics (NASDAQ:RLAY) last issued 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 company had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 48,199 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the sale, the chief executive officer owned 615,898 shares of the company’s stock, valued at $12,059,282.84. The trade was a 7.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald A. Bergstrom sold 93,456 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the completion of the sale, the insider owned 418,557 shares in the company, valued at $7,090,355.58. This represents a 18.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 422,912 shares of company stock worth $7,378,537 over the last 90 days. Corporate insiders own 5.04% of the company’s stock.

Relay Therapeutics Company 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.