Handelsbanken Fonder AB Buys New Shares in Relay Therapeutics, Inc. $RLAY

Handelsbanken Fonder AB bought a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 59,100 shares of the company’s stock, valued at approximately $1,106,000.

Several other institutional investors and hedge funds have also bought and sold shares of RLAY. KBC Group NV bought a new position in shares of Relay Therapeutics during the 1st quarter worth about $34,000. Torren Management LLC purchased a new position in Relay Therapeutics during the 4th quarter worth $30,000. Smartleaf Asset Management LLC boosted its holdings in Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after purchasing an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Relay Therapeutics in the 4th quarter worth approximately $46,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Relay Therapeutics by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock valued at $71,000 after purchasing an additional 1,757 shares during the period. 96.98% of the stock is owned by institutional investors.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 93,456 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total value of $1,583,144.64. Following the completion of the transaction, the insider owned 418,557 shares in the company, valued at approximately $7,090,355.58. This represents a 18.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 187,163 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the completion of the transaction, the chief financial officer owned 177,461 shares of the company’s stock, valued at approximately $3,011,513.17. The trade was a 51.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 409,639 shares of company stock worth $7,233,399 over the last ninety days. Corporate insiders own 5.04% of the company’s stock.

Relay Therapeutics Stock Down 0.3%

Shares of Relay Therapeutics stock opened at $20.61 on Wednesday. Relay Therapeutics, Inc. has a 12-month low of $3.31 and a 12-month high of $20.99. The firm has a market cap of $4.52 billion, a PE ratio of -13.13 and a beta of 1.69. The company’s fifty day simple moving average is $18.51 and its two-hundred day simple moving average is $14.14.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Oppenheimer increased their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group lifted their target price on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Zacks Research lowered shares of Relay Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Wall Street Zen lowered Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Wells Fargo & Company upped their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

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.