536,946 Shares in Relay Therapeutics, Inc. $RLAY Purchased by Elmind Capital LP

Elmind Capital LP bought a new position in shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 536,946 shares of the company’s stock, valued at approximately $4,543,000. Relay Therapeutics makes up 1.3% of Elmind Capital LP’s holdings, making the stock its 20th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Relay Therapeutics by 591.7% during the fourth quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock worth $1,869,000 after purchasing an additional 189,004 shares during the period. Tudor Investment Corp ET AL bought a new position in Relay Therapeutics during the third quarter worth about $399,000. Commodore Capital LP lifted its stake in Relay Therapeutics by 27.3% during the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after purchasing an additional 3,650,000 shares during the period. Sanctuary Advisors LLC bought a new position in Relay Therapeutics during the fourth quarter worth about $1,203,000. Finally, Mayport LLC bought a new position in Relay Therapeutics during the third quarter worth about $259,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Trading Up 3.4%

NASDAQ:RLAY opened at $15.56 on Thursday. Relay Therapeutics, Inc. has a 1 year low of $2.98 and a 1 year high of $17.47. The firm has a 50 day moving average of $14.17 and a 200-day moving average of $10.72. The stock has a market capitalization of $2.98 billion, a P/E ratio of -9.91 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last posted its 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 for the quarter, compared to the consensus estimate of $5.58 million. As a group, analysts forecast that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Insider Activity

In other news, CFO Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock in a transaction that occurred on 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 approximately $2,509,989.08. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 40,449 shares of company stock valued at $532,889 in the last three months. Insiders own 5.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citizens Jmp raised their price target on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 20th. Barclays raised their price target on shares of Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Wells Fargo & Company raised their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $23.30.

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.