Elmind Capital LP Purchases New Holdings in Relay Therapeutics, Inc. $RLAY

Elmind Capital LP purchased a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 1,465,279 shares of the company’s stock, valued at approximately $27,415,370,000. Relay Therapeutics accounts for approximately 6.9% of Elmind Capital LP’s portfolio, making the stock its 4th biggest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Torren Management LLC acquired a new position in shares of Relay Therapeutics during the 4th quarter worth approximately $30,000. KBC Group NV bought a new position in shares of Relay Therapeutics in the first quarter valued at $34,000. Allworth Financial LP acquired a new position in Relay Therapeutics during the second quarter worth $34,000. Smartleaf Asset Management LLC increased its holdings in Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after buying an additional 3,287 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Relay Therapeutics during the fourth quarter worth $46,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 1,459 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total value of $27,151.99. Following 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 position. The sale was disclosed in a 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 company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the transaction, the chief executive officer owned 615,898 shares in the company, valued at approximately $12,059,282.84. This trade represents a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 409,639 shares of company stock worth $7,233,399. 5.04% of the stock is owned by corporate insiders.

Relay Therapeutics Trading Up 4.1%

RLAY opened at $20.57 on Wednesday. The stock’s fifty day simple moving average is $19.07 and its 200 day simple moving average is $14.56. Relay Therapeutics, Inc. has a 1-year low of $3.44 and a 1-year high of $21.27. The stock has a market cap of $4.51 billion, a PE ratio of -13.10 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $0.96 million. Equities analysts forecast that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on RLAY shares. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Guggenheim restated a “buy” rating on shares of Relay Therapeutics in a research note on Friday, August 7th. The Goldman Sachs Group upped their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Citigroup reiterated a “market outperform” rating on shares of Relay Therapeutics in a research note on Monday, August 10th. Finally, Zacks Research upgraded Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $25.92.

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.