Wellington Management Group LLP Has $2.94 Million Stake in Relay Therapeutics, Inc. $RLAY

Wellington Management Group LLP raised its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 163.7% in the second quarter, Holdings Channel reports. The fund owned 156,906 shares of the company’s stock after purchasing an additional 97,398 shares during the quarter. Wellington Management Group LLP’s holdings in Relay Therapeutics were worth $2,936,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Bank of America Corp DE bought a new stake in shares of Relay Therapeutics during the 2nd quarter valued at approximately $50,425,000. Man Group plc bought a new position in Relay Therapeutics in the 2nd quarter valued at approximately $217,000. Jupiter Topco LLC bought a new position in Relay Therapeutics in the 2nd quarter valued at approximately $866,000. Elmind Capital LP acquired a new stake in Relay Therapeutics in the second quarter valued at approximately $27,415,370. Finally, J. Goldman & Co LP acquired a new stake in Relay Therapeutics in the second quarter valued at approximately $1,058,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of the company’s 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 sale, the insider owned 21,904,963 shares in the company, valued at $424,956,282.20. This represents a 21.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Catinazzo sold 187,163 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.97, for a total value of $3,176,156.11. Following the completion of the transaction, the chief financial officer directly owned 177,461 shares in the company, valued at approximately $3,011,513.17. This trade represents a 51.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 6,488,593 shares of company stock worth $125,133,958. 5.04% of the stock is owned by insiders.

Analyst Ratings Changes

RLAY has been the subject of several research analyst reports. Zacks Research upgraded shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Guggenheim reissued a “buy” rating on shares of Relay Therapeutics in a report on Friday, August 7th. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Citigroup reaffirmed a “market outperform” rating on shares of Relay Therapeutics in a report on Monday, August 10th. Finally, Wall Street Zen downgraded Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.92.

Relay Therapeutics Price Performance

RLAY opened at $18.89 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $3.88 and a fifty-two week high of $21.27. The company’s 50 day moving average price is $19.37 and its two-hundred day moving average price is $15.41. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of -12.03 and a beta of 1.69.

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

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.