Sanctuary Advisors LLC Purchases New Stake in Relay Therapeutics, Inc. $RLAY

Sanctuary Advisors LLC purchased a new stake in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 106,632 shares of the company’s stock, valued at approximately $1,995,000.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP bought a new position in shares of Relay Therapeutics during the second quarter valued at about $34,000. Meeder Asset Management Inc. purchased a new position in Relay Therapeutics during the 2nd quarter valued at about $62,000. KBC Group NV purchased a new position in Relay Therapeutics during the 1st quarter valued at about $34,000. Torren Management LLC bought a new position in Relay Therapeutics during the 4th quarter valued at approximately $30,000. Finally, Smartleaf Asset Management LLC raised its position in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after purchasing an additional 3,287 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RLAY shares. Wall Street Zen lowered Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. UBS Group set a $26.00 target price on Relay Therapeutics in a report on Tuesday, May 19th. JPMorgan Chase & Co. raised their price target on Relay Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. The Goldman Sachs Group lifted their price target 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. Finally, Citizens Jmp boosted their price objective on shares of Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $25.92.

Relay Therapeutics Stock Down 5.4%

Relay Therapeutics stock opened at $19.46 on Thursday. Relay Therapeutics, Inc. has a twelve month low of $3.49 and a twelve month high of $21.27. The company has a market capitalization of $4.26 billion, a P/E ratio of -12.39 and a beta of 1.69. The stock’s 50 day moving average is $19.14 and its 200 day moving average is $14.64.

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

Insider Buying and Selling

In related news, insider Peter Rahmer sold 50,000 shares of the company’s stock in a transaction dated 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 owned 225,857 shares in the company, valued at $4,311,610.13. The trade was a 18.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald A. Bergstrom sold 93,456 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider directly owned 418,557 shares in the company, valued at $7,090,355.58. This trade represents a 18.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 409,639 shares of company stock worth $7,233,399 in the last 90 days. 5.04% of the stock is owned by company 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.