Seven Fleet Capital Management LP Raises Stake in Relay Therapeutics, Inc. $RLAY

Seven Fleet Capital Management LP grew its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 253.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,738 shares of the company’s stock after purchasing an additional 184,738 shares during the quarter. Relay Therapeutics makes up about 0.8% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 28th largest holding. Seven Fleet Capital Management LP owned approximately 0.13% of Relay Therapeutics worth $2,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RLAY. Torren Management LLC purchased a new position in shares of Relay Therapeutics during the 4th quarter valued at $30,000. KBC Group NV purchased a new stake in Relay Therapeutics in the 1st quarter worth $34,000. Smartleaf Asset Management LLC increased its stake in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after buying an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Relay Therapeutics in the 4th quarter worth $46,000. Finally, Captrust Financial Advisors bought a new stake in Relay Therapeutics during the second quarter valued at about $49,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on RLAY shares. Zacks Research downgraded Relay Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their target price on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Monday, July 6th. JPMorgan Chase & Co. began coverage on Relay Therapeutics in a report on Wednesday, July 8th. They issued an “overweight” rating and a $28.00 price target on the stock. Finally, Citizens Jmp increased their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.92.

Insider Buying and Selling at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total transaction 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. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald A. Bergstrom sold 2,237 shares of the stock in a transaction 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 transaction, the insider owned 407,660 shares of the company’s stock, valued at $7,586,552.60. This trade represents a 0.55% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 427,356 shares of company stock worth $7,461,240. Company insiders own 5.04% of the company’s stock.

Relay Therapeutics Price Performance

NASDAQ:RLAY opened at $18.83 on Friday. Relay Therapeutics, Inc. has a 1 year low of $3.03 and a 1 year high of $20.79. The stock’s 50 day simple moving average is $17.16 and its two-hundred day simple moving average is $13.07. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -11.99 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. As a group, analysts anticipate that Relay Therapeutics, Inc. will post -1.57 EPS for the current year.

More Relay Therapeutics News

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

• Positive Sentiment: Potential earnings catalyst: Zacks expects Relay Therapeutics could exceed consensus expectations in its upcoming quarterly report, which may support near-term investor sentiment. This is only an earnings preview, not a reported result. Relay Therapeutics Expected to Beat Earnings Estimates
• Positive Sentiment: Breast cancer program draws renewed interest: Coverage says Relay’s breast cancer program has revitalized the investment story, potentially expanding the company’s opportunity in oncology. Relay Therapeutics Revitalized by Breast Cancer Program
• Positive Sentiment: Institutional ownership and analyst support remain strong: Several funds increased their positions during the first quarter, and recent analyst targets generally imply additional upside. MarketBeat reports a “Moderate Buy” consensus rating with an average target of $24.92.
• Neutral Sentiment: Second-quarter results are scheduled for August 6: Relay will report financial results and corporate updates after the market close. Investors will likely focus on pipeline progress, cash resources and development plans. Relay Therapeutics Second-Quarter Results Announcement
• Neutral Sentiment: Insider selling was administrative: CFO Thomas Catinazzo and insiders Donald Bergstrom and Peter Rahmer sold a combined 4,444 shares at $18.61 to cover tax withholding on vested equity awards. Each retained substantial holdings, limiting the bearish significance of the transactions. Relay Therapeutics Insider Transactions
• Negative Sentiment: Competition and clinical risk remain material: Relay is still a clinical-stage biotechnology company, and its valuation depends heavily on successful trials and eventual commercialization. Intense competition in breast cancer could limit the program’s upside.

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.