2,984,125 Shares in Relay Therapeutics, Inc. $RLAY Acquired by Spruce Street Capital LP

Spruce Street Capital LP acquired a new stake in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,984,125 shares of the company’s stock, valued at approximately $25,246,000. Relay Therapeutics accounts for 8.3% of Spruce Street Capital LP’s investment portfolio, making the stock its 2nd largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Relay Therapeutics by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after purchasing an additional 1,757 shares during the last quarter. Cresset Asset Management LLC raised its stake in shares of Relay Therapeutics by 5.0% in the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock valued at $203,000 after acquiring an additional 1,848 shares during the period. Prelude Capital Management LLC boosted its position in Relay Therapeutics by 18.7% during the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock worth $103,000 after purchasing an additional 3,100 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of 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 buying an additional 3,287 shares during the period. Finally, Torren Management LLC acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Thomas Catinazzo sold 17,717 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value 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 represents a 8.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 40,449 shares of company stock valued at $532,889 over the last three months. Corporate insiders own 5.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RLAY shares. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Citigroup reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Barclays increased their price target on shares of Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group boosted their price target on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Relay Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $23.30.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $14.96 on Tuesday. The firm has a fifty day moving average of $14.06 and a 200-day moving average of $10.61. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -9.53 and a beta of 1.75. Relay Therapeutics, Inc. has a 1 year low of $2.98 and a 1 year high of $17.47.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate 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. Analysts predict that Relay Therapeutics, Inc. will post -1.6 EPS for the current year.

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.