Dimensional Fund Advisors LP Grows Stake in Relay Therapeutics, Inc. $RLAY

Dimensional Fund Advisors LP lifted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 18.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,940,536 shares of the company’s stock after acquiring an additional 460,186 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Relay Therapeutics were worth $29,248,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV bought a new position in Relay Therapeutics in the first quarter worth approximately $34,000. Allspring Global Investments Holdings LLC boosted its position in Relay Therapeutics by 11.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,739 shares of the company’s stock valued at $783,000 after acquiring an additional 7,292 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Relay Therapeutics by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 382,920 shares of the company’s stock valued at $3,810,000 after acquiring an additional 4,217 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Relay Therapeutics by 1.1% in the 1st quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock valued at $1,431,000 after acquiring an additional 1,588 shares during the period. Finally, Abel Hall LLC raised its holdings in Relay Therapeutics by 40.5% in the first quarter. Abel Hall LLC now owns 18,237 shares of the company’s stock worth $181,000 after purchasing an additional 5,253 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RLAY. The Goldman Sachs Group raised their target price on Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Barclays boosted their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Wells Fargo & Company upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Wall Street Zen raised Relay Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.92.

Relay Therapeutics Trading Up 4.0%

Shares of NASDAQ RLAY opened at $19.54 on Wednesday. The stock has a market cap of $3.74 billion, a PE ratio of -12.45 and a beta of 1.69. Relay Therapeutics, Inc. has a 12-month low of $3.03 and a 12-month high of $20.79. The company has a 50-day moving average of $17.38 and a 200 day moving average of $13.27.

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 during the quarter, compared to the consensus estimate of $5.58 million. On average, sell-side analysts forecast that Relay Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sanjiv Patel sold 48,199 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value of $943,736.42. Following the sale, the chief executive officer directly owned 615,898 shares in the company, valued at approximately $12,059,282.84. The trade was a 7.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Catinazzo sold 1,459 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total transaction of $27,151.99. Following the completion of the transaction, the chief financial officer owned 158,285 shares in the company, valued at approximately $2,945,683.85. This represents a 0.91% decrease in their ownership of the stock. 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. Insiders sold 427,356 shares of company stock worth $7,461,240 in the last three months. 5.04% of the stock is owned by 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.