Perceptive Advisors LLC Buys 7,847,896 Shares of Relay Therapeutics, Inc. $RLAY

Perceptive Advisors LLC boosted its stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 412.3% in the 1st quarter, HoldingsChannel reports. The fund owned 9,751,141 shares of the company’s stock after buying an additional 7,847,896 shares during the quarter. Relay Therapeutics accounts for 1.9% of Perceptive Advisors LLC’s portfolio, making the stock its 15th biggest position. Perceptive Advisors LLC owned 0.05% of Relay Therapeutics worth $97,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Torren Management LLC purchased a new position in Relay Therapeutics in the 4th quarter worth approximately $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 boosted its stake in shares of Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after purchasing an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Relay Therapeutics in the fourth quarter worth approximately $46,000. Finally, Captrust Financial Advisors purchased a new position in shares of Relay Therapeutics in the second quarter worth $49,000. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Trading Down 3.2%

Shares of RLAY opened at $18.83 on Friday. The firm’s 50-day moving average price is $17.16 and its 200-day moving average price is $13.07. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -11.99 and a beta of 1.67. Relay Therapeutics, Inc. has a 1-year low of $3.03 and a 1-year high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results 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 company had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. On average, research analysts forecast that Relay Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RLAY. Zacks Research lowered shares of Relay Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Citigroup reissued an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. HC Wainwright boosted their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Finally, JonesTrading upgraded shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $24.92.

Key Headlines Impacting Relay Therapeutics

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.

Insider Transactions at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 1,459 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total value of $27,151.99. Following the completion of the transaction, the chief financial officer owned 158,285 shares of the company’s stock, valued at approximately $2,945,683.85. This represents a 0.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sanjiv Patel sold 48,199 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value of $943,736.42. Following the completion of the transaction, the chief executive officer owned 615,898 shares of the company’s stock, valued at approximately $12,059,282.84. The trade was a 7.26% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 427,356 shares of company stock valued at $7,461,240. Insiders own 5.04% of the company’s stock.

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.