Relay Therapeutics, Inc. $RLAY is Casdin Capital LLC’s 6th Largest Position

Casdin Capital LLC lessened its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,341,381 shares of the company’s stock after selling 57,193 shares during the quarter. Relay Therapeutics makes up about 4.9% of Casdin Capital LLC’s holdings, making the stock its 6th largest position. Casdin Capital LLC owned about 0.07% of Relay Therapeutics worth $59,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Commodore Capital LP grew its stake in Relay Therapeutics by 27.3% in the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock valued at $88,740,000 after acquiring an additional 3,650,000 shares during the last quarter. Bellevue Group AG increased its holdings in Relay Therapeutics by 1.4% during the 3rd quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock valued at $43,564,000 after acquiring an additional 114,740 shares in the last quarter. Geode Capital Management LLC raised its position in Relay Therapeutics by 5.2% during the second quarter. Geode Capital Management LLC now owns 3,229,666 shares of the company’s stock worth $11,176,000 after acquiring an additional 159,548 shares during the last quarter. Millennium Management LLC raised its position in Relay Therapeutics by 14.6% during the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after acquiring an additional 374,491 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of Relay Therapeutics by 448.4% in the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after purchasing an additional 1,241,657 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RLAY. Wells Fargo & Company increased their price target on shares of Relay Therapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Guggenheim lifted their price objective on Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer raised Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a research note on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.80.

Relay Therapeutics Trading Down 1.8%

NASDAQ RLAY opened at $10.36 on Friday. The business’s 50-day moving average price is $8.71 and its 200 day moving average price is $7.21. Relay Therapeutics, Inc. has a twelve month low of $1.77 and a twelve month high of $11.49. The company has a market capitalization of $1.85 billion, a PE ratio of -6.40 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.06. The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $4.34 million. Equities analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Insider Activity at Relay Therapeutics

In related news, insider Donald A. Bergstrom sold 18,895 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total transaction of $143,979.90. Following the completion of the transaction, the insider owned 422,733 shares of the company’s stock, valued at approximately $3,221,225.46. This represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 43,168 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $7.82, for a total transaction of $337,573.76. Following the transaction, the chief executive officer directly owned 661,041 shares in the company, valued at approximately $5,169,340.62. This represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 93,302 shares of company stock valued at $724,355 over the last three months. Insiders own 4.87% of the company’s stock.

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.