Congress Asset Management Co. Has $2.13 Million Stock Holdings in Relay Therapeutics, Inc. $RLAY

Congress Asset Management Co. boosted its position in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 160.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,842 shares of the company’s stock after buying an additional 252,142 shares during the period. Congress Asset Management Co. owned approximately 0.24% of Relay Therapeutics worth $2,134,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Murchinson Ltd. acquired a new stake in Relay Therapeutics in the first quarter valued at approximately $26,000. FNY Investment Advisers LLC raised its holdings in shares of Relay Therapeutics by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after acquiring an additional 5,000 shares during the last quarter. Quinn Opportunity Partners LLC bought a new position in Relay Therapeutics in the 2nd quarter valued at about $35,000. DRW Securities LLC bought a new position in Relay Therapeutics in the 1st quarter valued at about $28,000. Finally, May Hill Capital LLC acquired a new position in Relay Therapeutics during the 2nd quarter valued at about $38,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Guggenheim initiated coverage on Relay Therapeutics in a report on Thursday, September 4th. They set a “buy” rating and a $15.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Tuesday, October 14th. HC Wainwright lowered their target price on shares of Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, August 26th. Finally, Wells Fargo & Company upgraded shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $6.00 to $13.00 in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY opened at $8.61 on Tuesday. The company has a market capitalization of $1.49 billion, a P/E ratio of -4.92 and a beta of 1.50. The company’s 50-day moving average is $7.22 and its 200 day moving average is $5.08. Relay Therapeutics, Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $9.04.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.04). As a group, research analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Transactions at Relay Therapeutics

In other news, insider Peter Rahmer sold 21,394 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $7.50, for a total transaction of $160,455.00. Following the completion of the transaction, the insider owned 337,469 shares in the company, valued at approximately $2,531,017.50. This represents a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 21,664 shares of Relay Therapeutics stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total value of $157,930.56. Following the completion of the sale, the chief financial officer directly owned 313,631 shares of the company’s stock, valued at approximately $2,286,369.99. This trade represents a 6.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 155,163 shares of company stock valued at $1,117,630 in the last three months. 4.32% of the stock is currently 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.