OP Asset Management Ltd Invests $291,000 in Relay Therapeutics, Inc. $RLAY

OP Asset Management Ltd purchased a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,217 shares of the company’s stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RLAY. Torren Management LLC bought a new position in Relay Therapeutics in the 4th quarter worth about $30,000. Smartleaf Asset Management LLC grew its stake in Relay Therapeutics by 288.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after purchasing an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Relay Therapeutics in the fourth quarter worth approximately $46,000. Captrust Financial Advisors purchased a new position in Relay Therapeutics during the 2nd quarter worth $49,000. Finally, Cerity Partners LLC purchased a new position in Relay Therapeutics during the 2nd quarter worth $51,000. Institutional investors own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RLAY. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Guggenheim raised their price target on Relay Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Wells Fargo & Company lifted their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Wall Street Zen raised shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Oppenheimer increased their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $23.30.

Insider Activity

In other news, insider Donald A. Bergstrom sold 93,456 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider owned 418,557 shares in the company, valued at approximately $7,090,355.58. The trade was a 18.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 187,163 shares of the company’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 owned 177,461 shares in the company, valued at approximately $3,011,513.17. This trade represents a 51.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 321,068 shares of company stock worth $5,292,189 over the last ninety days. 5.04% of the stock is currently owned by corporate insiders.

Relay Therapeutics Trading Down 5.2%

NASDAQ RLAY opened at $18.71 on Wednesday. The firm’s fifty day simple moving average is $14.63 and its two-hundred day simple moving average is $11.35. Relay Therapeutics, Inc. has a 12-month low of $3.03 and a 12-month high of $19.93. The firm has a market capitalization of $3.58 billion, a P/E ratio of -11.92 and a beta of 1.75.

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 during the quarter, compared to analyst estimates of $5.58 million. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.55 earnings per share for the current fiscal year.

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.