BlackRock Inc. Acquires Shares of 15,288,202 Relay Therapeutics, Inc. $RLAY

BlackRock Inc. bought a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,288,202 shares of the company’s stock, valued at approximately $286,042,000. BlackRock Inc. owned approximately 0.08% of Relay Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Torren Management LLC purchased a new position in Relay Therapeutics in the fourth quarter worth $30,000. KBC Group NV purchased a new stake in shares of Relay Therapeutics during the first quarter valued at approximately $34,000. Smartleaf Asset Management LLC increased its position in shares of Relay Therapeutics by 288.6% in the fourth 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 during the period. Caitong International Asset Management Co. Ltd purchased a new position in Relay Therapeutics during the 4th quarter valued at about $46,000. Finally, Captrust Financial Advisors purchased a new position in Relay Therapeutics during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 1,459 shares of the firm’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 value of $27,151.99. Following the transaction, the chief financial officer owned 158,285 shares of the company’s stock, valued at approximately $2,945,683.85. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Donald A. Bergstrom sold 2,237 shares of the business’s 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 sale, the insider directly owned 407,660 shares of the company’s stock, valued at approximately $7,586,552.60. The trade was a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 409,639 shares of company stock worth $7,233,399. Company insiders own 5.04% of the company’s stock.

Relay Therapeutics Price Performance

NASDAQ:RLAY opened at $19.46 on Thursday. The firm’s 50-day moving average price is $19.14 and its 200-day moving average price is $14.64. The company has a market capitalization of $4.26 billion, a PE ratio of -12.39 and a beta of 1.69. Relay Therapeutics, Inc. has a 1-year low of $3.49 and a 1-year high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (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. Equities analysts anticipate that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RLAY has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Citizens Jmp raised their price target on Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Monday, August 10th. 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 research report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

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.