Seven Fleet Capital Management LP Sells 79,516 Shares of Relay Therapeutics, Inc. $RLAY

Seven Fleet Capital Management LP reduced its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 30.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 178,222 shares of the company’s stock after selling 79,516 shares during the quarter. Seven Fleet Capital Management LP’s holdings in Relay Therapeutics were worth $3,335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KBC Group NV acquired a new position in shares of Relay Therapeutics during the first quarter worth approximately $34,000. Allworth Financial LP acquired a new stake in Relay Therapeutics in the 2nd quarter valued at $34,000. Smartleaf Asset Management LLC grew its position in Relay Therapeutics by 288.6% in 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 period. Caitong International Asset Management Co. Ltd bought a new stake in Relay Therapeutics during the 4th quarter valued at $46,000. Finally, Captrust Financial Advisors bought a new stake in Relay Therapeutics during the 2nd quarter valued at $49,000. Institutional investors own 96.98% of the company’s stock.

Analyst Ratings Changes

RLAY has been the topic of a number of recent research reports. Citigroup reaffirmed a “market outperform” rating on shares of Relay Therapeutics in a research note on Monday, August 10th. Guggenheim reissued a “buy” rating on shares of Relay Therapeutics in a research report on Friday, August 7th. Zacks Research upgraded shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday, July 6th. Finally, The Goldman Sachs Group raised their price target on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Two investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $25.92.

Relay Therapeutics Trading Up 0.2%

NASDAQ RLAY opened at $19.04 on Friday. The firm has a market capitalization of $4.17 billion, a P/E ratio of -12.13 and a beta of 1.69. The business has a fifty day simple moving average of $19.36 and a 200 day simple moving average of $15.08. Relay Therapeutics, Inc. has a 12 month low of $3.86 and a 12 month high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data 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 business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 187,163 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the transaction, the chief financial officer directly owned 177,461 shares of the company’s stock, valued at $3,011,513.17. This trade represents a 51.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Rahmer sold 50,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the transaction, the insider owned 225,857 shares in the company, valued at approximately $4,311,610.13. This trade represents a 18.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,414,147 shares of company stock valued at $123,723,695 over the last three months. Insiders own 5.04% of the company’s stock.

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.