Relay Therapeutics (NASDAQ:RLAY) Major Shareholder Sells 6,000,000 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $19.40, for a total value of $116,400,000.00. Following the completion of the sale, the insider directly owned 21,904,963 shares of the company’s stock, valued at $424,956,282.20. This represents a 21.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Relay Therapeutics Stock Down 3.6%

Shares of NASDAQ RLAY traded down $0.70 during midday trading on Friday, hitting $18.72. The company had a trading volume of 732,845 shares, compared to its average volume of 3,155,281. Relay Therapeutics, Inc. has a twelve month low of $3.52 and a twelve month high of $21.27. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -11.92 and a beta of 1.69. The business has a 50-day simple moving average of $19.21 and a two-hundred day simple moving average of $14.71.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results 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 firm had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. On average, equities analysts forecast that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RLAY shares. Citizens Jmp lifted their price target on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Monday, July 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Citigroup reaffirmed a “market outperform” rating on shares of Relay Therapeutics in a research report on Monday, August 10th. Finally, Canaccord Genuity Group initiated coverage on shares of Relay Therapeutics in a research note on Thursday, July 16th. They set a “buy” rating and a $29.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.92.

Institutional Trading of Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RLAY. AQR Capital Management LLC grew its stake in Relay Therapeutics by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock valued at $956,000 after purchasing an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Relay Therapeutics by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after buying an additional 5,238 shares in the last quarter. Millennium Management LLC grew its position in shares of 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 buying an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Relay Therapeutics in the first quarter worth $53,000. Finally, Woodline Partners LP raised its holdings in 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 acquiring an additional 1,241,657 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

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.