Seven Fleet Capital Management LP Makes New Investment in Relay Therapeutics, Inc. $RLAY

Seven Fleet Capital Management LP bought a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 4th quarter, Holdings Channel reports. The firm bought 73,000 shares of the company’s stock, valued at approximately $618,000.

Other hedge funds have also recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Relay Therapeutics in the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its position in Relay Therapeutics by 288.6% in the 4th 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 last quarter. Caitong International Asset Management Co. Ltd bought a new position in Relay Therapeutics in the 4th quarter valued at $46,000. Captrust Financial Advisors purchased a new stake in Relay Therapeutics in the second quarter worth $49,000. Finally, Cerity Partners LLC purchased a new stake in Relay Therapeutics in the second quarter worth $51,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

RLAY stock opened at $15.88 on Friday. Relay Therapeutics, Inc. has a 1-year low of $3.03 and a 1-year high of $17.47. The business has a 50-day moving average price of $14.22 and a 200 day moving average price of $10.77. The company has a market capitalization of $3.04 billion, a P/E ratio of -10.11 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last issued its 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 business had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. On average, analysts anticipate that Relay Therapeutics, Inc. will post -1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RLAY shares. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a research note on Tuesday, May 19th. HC Wainwright raised their price target on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Guggenheim boosted their price objective on shares of Relay Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Citizens Jmp upped their target price on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $23.30.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 17,717 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $12.86, for a total transaction of $227,840.62. Following the transaction, the chief financial officer directly owned 195,178 shares in the company, valued at approximately $2,509,989.08. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 40,449 shares of company stock valued at $532,889. 5.04% of the stock is currently owned by corporate insiders.

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.