Profund Advisors LLC Purchases 38,886 Shares of Relay Therapeutics, Inc. $RLAY

Profund Advisors LLC raised its position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) by 115.4% in the fourth quarter, Holdings Channel reports. The fund owned 72,586 shares of the company’s stock after buying an additional 38,886 shares during the quarter. Profund Advisors LLC’s holdings in Relay Therapeutics were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RLAY. Torren Management LLC bought a new stake in Relay Therapeutics during the fourth quarter valued at about $30,000. Captrust Financial Advisors bought a new stake in Relay Therapeutics during the second quarter valued at about $49,000. Cerity Partners LLC bought a new stake in Relay Therapeutics during the second quarter valued at about $51,000. Jump Financial LLC bought a new stake in Relay Therapeutics during the second quarter valued at about $53,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Relay Therapeutics during the first quarter valued at about $53,000. 96.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RLAY has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. HC Wainwright upped their price target on shares of Relay Therapeutics from $19.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday. Wall Street Zen cut shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $22.60.

Relay Therapeutics Stock Down 1.0%

Relay Therapeutics stock opened at $13.53 on Friday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -8.62 and a beta of 1.74. Relay Therapeutics, Inc. has a 12 month low of $2.75 and a 12 month high of $17.32. The business has a 50 day moving average price of $12.73 and a two-hundred day moving average price of $9.73.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. On average, analysts expect that Relay Therapeutics, Inc. will post -1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.86, for a total transaction of $227,840.62. Following the completion of the transaction, the chief financial officer owned 195,178 shares in the company, valued at $2,509,989.08. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 40,449 shares of company stock worth $532,889 in the last three months. 5.04% of the stock is owned by company insiders.

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.