Legal & General Group Plc Makes New Investment in Relay Therapeutics, Inc. $RLAY

Legal & General Group Plc bought a new position in Relay Therapeutics, Inc. (NASDAQ:RLAY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 127,676 shares of the company’s stock, valued at approximately $2,389,000.

Other institutional investors also recently modified their holdings of the company. Alphabet Inc. purchased a new position in shares of Relay Therapeutics in the second quarter worth about $26,382,000. California State Teachers Retirement System grew its position in Relay Therapeutics by 47.9% during the 1st quarter. California State Teachers Retirement System now owns 174,099 shares of the company’s stock worth $1,732,000 after acquiring an additional 56,422 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in Relay Therapeutics during the 2nd quarter worth approximately $1,323,000. Sanctuary Advisors LLC purchased a new position in Relay Therapeutics in the 2nd quarter worth approximately $1,995,000. Finally, Bank of America Corp DE increased its stake in Relay Therapeutics by 86.1% in the 1st quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock worth $19,280,000 after purchasing an additional 896,746 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RLAY has been the subject of several recent research reports. Wall Street Zen downgraded Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Citizens Jmp raised their target price on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Monday, July 6th. Canaccord Genuity Group assumed coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They set a “buy” rating and a $29.00 price target for the company. Finally, Zacks Research raised shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.92.

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY opened at $19.04 on Friday. Relay Therapeutics, Inc. has a 1-year low of $3.86 and a 1-year high of $21.27. The business has a fifty day moving average price of $19.36 and a 200-day moving average price of $15.08. The company has a market capitalization of $4.17 billion, a PE ratio of -12.13 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. On average, sell-side analysts anticipate that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $19.40, for a total transaction of $116,400,000.00. Following the sale, the insider owned 21,904,963 shares of the company’s stock, valued at approximately $424,956,282.20. This trade represents a 21.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Rahmer sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total value of $954,500.00. Following the completion of the transaction, the insider owned 225,857 shares of the company’s stock, valued at $4,311,610.13. The trade was 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 worth $123,723,695 in the last quarter. Company insiders own 5.04% of the company’s stock.

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.