ICONIQ Capital LLC Makes New Investment in Relay Therapeutics, Inc. $RLAY

ICONIQ Capital LLC bought a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 94,697 shares of the company’s stock, valued at approximately $1,772,000.

A number of other hedge funds have also made changes to their positions in the company. Torren Management LLC acquired a new position in shares of Relay Therapeutics during the 4th quarter worth $30,000. KBC Group NV acquired a new stake in Relay Therapeutics in the 1st quarter valued at about $34,000. Allworth Financial LP acquired a new stake in Relay Therapeutics in the 2nd quarter valued at about $34,000. Smartleaf Asset Management LLC increased its holdings in Relay Therapeutics by 288.6% during 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Relay Therapeutics during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Activity

In other news, insider Peter Rahmer sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total value of $954,500.00. Following the completion of the transaction, the insider owned 225,857 shares of the company’s stock, valued at $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 is available at the SEC website. Also, insider Donald A. Bergstrom sold 2,237 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $41,630.57. Following the completion of the transaction, the insider directly owned 407,660 shares of the company’s stock, valued at approximately $7,586,552.60. This represents a 0.55% 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 ninety days, insiders have sold 409,639 shares of company stock valued at $7,233,399. 5.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RLAY. Oppenheimer lifted their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Citizens Jmp raised their price objective on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Monday, August 10th. Wells Fargo & Company lifted their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Two 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

Trending Headlines about Relay Therapeutics

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: HC Wainwright reiterated its Buy rating and $29 price target, implying substantial upside from the stock’s recent level near $19.44. The firm expects continued losses but provided quarterly 2026 and 2027 EPS forecasts ranging from $(0.37) to $(0.41). What is HC Wainwright’s Forecast for RLAY FY2027 Earnings?
• Positive Sentiment: Zacks Research upgraded Relay Therapeutics from “Strong Sell” to “Hold,” reducing a significant negative rating overhang, although the revised view remains neutral rather than bullish. Zacks.com
• Neutral Sentiment: HC Wainwright’s projections call for FY2026 EPS of $(1.57), Q1 2027 EPS of $(0.39), Q2 2027 EPS of $(0.40), Q3 2027 EPS of $(0.40), and Q4 2027 EPS of $(0.41). The estimates indicate that Relay remains an unprofitable clinical-stage biotechnology company, with investors dependent on pipeline progress and future drug-development milestones.
• Negative Sentiment: HC Wainwright lowered its FY2026 EPS forecast from $(1.50) to $(1.57), reduced its Q3 2026 estimate from $(0.36) to $(0.37), and cut its Q4 2026 estimate from $(0.37) to $(0.38). These revisions point to slightly higher expected losses and may be contributing to the stock’s softer performance.

Relay Therapeutics Stock Performance

Relay Therapeutics stock opened at $19.44 on Monday. The stock has a market cap of $4.26 billion, a PE ratio of -12.38 and a beta of 1.69. The stock has a 50-day moving average price of $18.86 and a 200 day moving average price of $14.40. Relay Therapeutics, Inc. has a 52 week low of $3.43 and a 52 week high of $21.27.

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

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.