The Manufacturers Life Insurance Company Raises Position in Relay Therapeutics, Inc. $RLAY

The Manufacturers Life Insurance Company grew its stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 18.2% during the first quarter, Holdings Channel reports. The firm owned 209,707 shares of the company’s stock after purchasing an additional 32,221 shares during the period. The Manufacturers Life Insurance Company’s holdings in Relay Therapeutics were worth $2,087,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new position in shares of Relay Therapeutics during the third quarter valued at about $399,000. Sanctuary Advisors LLC bought a new position in shares of Relay Therapeutics during the 4th quarter worth approximately $1,203,000. Affinity Asset Advisors LLC bought a new position in shares of Relay Therapeutics during the 1st quarter worth approximately $3,980,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Relay Therapeutics in the 1st quarter worth approximately $6,649,000. Finally, Casdin Capital LLC boosted its stake in shares of Relay Therapeutics by 14.7% in the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after buying an additional 1,662,193 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was 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 $12,059,282.84. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter Rahmer sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total value of $954,500.00. Following the transaction, the insider directly owned 225,857 shares in the company, valued at $4,311,610.13. This represents a 18.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 427,356 shares of company stock valued at $7,461,240 in the last three months. 5.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RLAY. Wall Street Zen raised Relay Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Monday, July 6th. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. started coverage on Relay Therapeutics in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $28.00 price objective for the company. Finally, Oppenheimer raised their target price on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $19.77 on Monday. Relay Therapeutics, Inc. has a twelve month low of $3.03 and a twelve month high of $20.79. The firm has a 50 day moving average price of $17.71 and a 200-day moving average price of $13.53. The company has a market capitalization of $4.33 billion, a P/E ratio of -12.59 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. Equities analysts expect that Relay Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Relay Therapeutics Company 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.