263,506 Shares in Relay Therapeutics, Inc. $RLAY Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 263,506 shares of the company’s stock, valued at approximately $4,930,000. The Manufacturers Life Insurance Company owned 0.12% of Relay Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alphabet Inc. purchased a new position in shares of Relay Therapeutics in the second quarter worth $26,382,000. California State Teachers Retirement System boosted its position in Relay Therapeutics by 47.9% during the 1st quarter. California State Teachers Retirement System now owns 174,099 shares of the company’s stock valued at $1,732,000 after buying an additional 56,422 shares during the period. Persistent Asset Partners Ltd bought a new stake in Relay Therapeutics in the 2nd quarter worth $1,323,000. Sanctuary Advisors LLC bought a new stake in Relay Therapeutics in the 2nd quarter worth $1,995,000. Finally, Bank of America Corp DE grew its holdings in Relay Therapeutics by 86.1% in the 1st quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock worth $19,280,000 after acquiring an additional 896,746 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, May 19th. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group boosted their price target on 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 report on Monday, August 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Relay Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

Relay Therapeutics Stock Performance

RLAY stock opened at $18.38 on Tuesday. The firm has a 50 day moving average price of $19.29 and a 200-day moving average price of $14.85. Relay Therapeutics, Inc. has a 52-week low of $3.52 and a 52-week high of $21.27. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of -11.71 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) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. As a group, sell-side analysts forecast that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at Relay Therapeutics

In related news, insider Peter Rahmer sold 4,508 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $20.03, for a total transaction of $90,295.24. Following the sale, the insider directly owned 223,657 shares of the company’s stock, valued at approximately $4,479,849.71. This represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 1,459 shares of Relay Therapeutics stock in a transaction dated 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 directly owned 158,285 shares of the company’s stock, valued at $2,945,683.85. This trade 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. In the last 90 days, insiders sold 6,414,147 shares of company stock valued at $123,723,695. 5.04% of the stock is currently owned by corporate insiders.

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.