Casdin Capital LLC Increases Stake in Relay Therapeutics, Inc. $RLAY

Casdin Capital LLC lifted its holdings in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,003,574 shares of the company’s stock after purchasing an additional 1,662,193 shares during the quarter. Relay Therapeutics accounts for about 6.8% of Casdin Capital LLC’s portfolio, making the stock its 5th biggest position. Casdin Capital LLC owned about 7.50% of Relay Therapeutics worth $110,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Balyasny Asset Management L.P. lifted its stake in Relay Therapeutics by 15.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,099,912 shares of the company’s stock valued at $17,765,000 after purchasing an additional 274,941 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Relay Therapeutics in the fourth quarter valued at $523,000. Abel Hall LLC grew its position in Relay Therapeutics by 16.2% during the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock worth $110,000 after buying an additional 1,809 shares in the last quarter. Jain Global LLC purchased a new position in shares of Relay Therapeutics in the 4th quarter worth about $563,000. Finally, Trexquant Investment LP purchased a new position in shares of Relay Therapeutics in the 4th quarter worth about $3,994,000. 96.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Thomas Catinazzo sold 17,717 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value of $227,840.62. Following the sale, the chief financial officer owned 195,178 shares of the company’s stock, valued at $2,509,989.08. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 40,449 shares of company stock valued at $532,889. Company insiders own 5.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Oppenheimer increased their target price on Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Wells Fargo & Company raised their target price on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. UBS Group set a $26.00 price target on Relay Therapeutics in a report on Tuesday, May 19th. The Goldman Sachs Group raised their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen upgraded Relay Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $23.30.

Relay Therapeutics Stock Up 3.4%

Shares of RLAY stock opened at $15.56 on Thursday. Relay Therapeutics, Inc. has a 52 week low of $2.98 and a 52 week high of $17.47. The stock has a market capitalization of $2.98 billion, a PE ratio of -9.91 and a beta of 1.75. The firm has a 50 day moving average of $14.17 and a two-hundred day moving average of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The firm had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. Analysts expect that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Relay Therapeutics 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.