Relay Therapeutics, Inc.

RLAY • NASDAQ

Relay Therapeutics, Inc. is a biotechnology company in the healthcare sector on NASDAQ, led by Sanjiv K. Patel, with a market cap of $1.4B. As of Q3 2025, 96% of shares are held by 195 institutional investors, with SB INVESTMENT ADVISERS LTD as the largest holder at 16.19%.

CEOSanjiv K. Patel

Market Cap$1.4B

Biotechnology

Healthcare

Employees309.0

Websiterelaytx.com

Country

United States of America

Overview

Overview of institutional ownership in RLAY as of Q3 2025 with a market cap of $900.0M

All Institutions

Institutions: 195
Value Held: $867.7M
Shares Held: 166.3M
Avg Position: $4.4M
Median Position: $274.9K

Hedge Funds

Hedge Funds: 26
Value Held: $299.1M
Shares Held: 57.3M
Avg Position: $11.5M
Median Position: $2.7M

Ownership Breakdown

Institutional (non-HF)

63.18%

$568.6M

Hedge Funds

33.24%

$299.1M

Retail & Other

3.59%

$32.3M

Based on market cap of $900.0M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in RLAY as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
S SB INVESTMENT ADVISERS LTD Institution	-	$145.7M 1.10% of portfolio	16.19% 27.9M shares	Q3 2020 Held for 5y 2m	$13.2B
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	$88.7M 4.33% of portfolio	9.86% 17.0M shares	Q2 2025 Held for 5 months	$2.0B
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	Steven Alan Cohen CEO	$77.1M 0.18% of portfolio	8.57% 14.8M shares	Q2 2023 Held for 2y 5m	$43.2B
B BlackRock, Inc. Institution	-	$71.8M 0.00% of portfolio	7.98% 13.8M shares	Q3 2020 Held for 5y 2m	$5.67T
Casdin Capital, LLC Hedge Fund•Sector	Eli D Casdin Managing Partner	$59.2M 5.12% of portfolio	6.58% 11.3M shares	Q3 2020 Held for 5y 2m	$1.2B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$49.0M 0.00% of portfolio	5.45% 9.4M shares	Q3 2020 Held for 5y 2m	$6.69T
B Bellevue Group AG Institution	-	$43.6M 0.91% of portfolio	4.84% 8.3M shares	Q3 2020 Held for 5y 2m	$4.8B
T TANG CAPITAL MANAGEMENT LLC Institution	-	$42.1M 1.66% of portfolio	4.68% 8.1M shares	Q3 2024 Held for 1y 2m	$2.5B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$26.4M 0.00% of portfolio	2.94% 5.1M shares	Q3 2020 Held for 5y 2m	$2.88T
N Nextech Invest, Ltd. Institution	-	$20.1M 3.06% of portfolio	2.23% 3.8M shares	Q1 2025 Held for 8 months	$657.0M

Net Capital Flow

Institutional buying and selling activity for RLAY in Q3 2025

Traded: −$13.7M
Buyers: 83
Sellers: 86
Total Bought: +$55.6M
Total Sold: −$69.3M
Avg Position: $3.9M

Biggest Buyers

Institution	Net Bought	Current Position
COMMODORE CAPITAL LP Hedge Fund•Long/Short	+$19.1M +3.7M shares	$88.7M 17.0M shares
TCG Crossover Management, LLC Venture Capital	+$9.5M +1.8M shares	$9.5M 1.8M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	+$6.9M +1.3M shares	$77.1M 14.8M shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$6.1M +1.2M shares	$6.1M 1.2M shares
MORGAN STANLEY RIA/Wealth	+$1.8M +341.8K shares	$9.2M 1.8M shares
CONGRESS ASSET MANAGEMENT CO /MA Long Only Manager	+$1.3M +252.1K shares	$2.1M 408.8K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$1.1M +217.6K shares	$6.8M 1.3M shares
J JANE STREET GROUP, LLC Institution	+$965.4K +185.0K shares	$965.4K 185.0K shares
A Advisor Group Holdings, Inc. Institution	+$960.0K +184.5K shares	$970.0K 186.4K shares
H HRT FINANCIAL LLC Institution	+$958.3K +183.6K shares	$1.0M 197.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
JPMORGAN CHASE & CO Institution	−$20.2M −3.9M shares	$2.4M 462.4K shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$9.1M −1.7M shares	$5.9M 1.1M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$5.9M −1.1M shares	$3.9M 744.0K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	−$3.1M −593.2K shares	$2.1M 408.8K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$2.5M −485.1K shares	$5.3M 1.0M shares
Polygon Management Ltd. Hedge Fund•Multi-Strategy	−$2.5M −475.9K shares	$1.2M 223.1K shares
P Private Capital Advisors, Inc. RIA/Wealth	−$2.0M −388.1K shares	$280.0K 53.6K shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$1.6M −306.5K shares	$13.0M 2.5M shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	−$1.5M −293.4K shares	$2.6M 501.2K shares
Ikarian Capital, LLC Hedge Fund•Event Driven	−$1.4M −275.9K shares	$2.4M 467.4K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited RLAY in Q3 2025

New Positions: 12
New Value: $10.0M
Exited Positions: 23
Exited Value: $6.9M

New Positions

Institution	Position Value
TCG Crossover Management, LLC Venture Capital	$9.5M 1.8M shares
MAYPORT, LLC RIA/Wealth	$259.3K 49.7K shares
4 49 WEALTH MANAGEMENT, LLC Institution	$68.4K 13.1K shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	$68.1K 13.1K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$64.6K 12.4K shares
A Abel Hall, LLC RIA/Wealth	$58.3K 11.2K shares
HAGER INVESTMENT MANAGEMENT SERVICES, LLC RIA/Wealth	$11.4K 2.2K shares
O Optiver Holding B.V. Institution	$6.4K 1.2K shares
U UMB BANK N A/MO Institution	$3.8K 735.0 shares
A Advisory Services Network, LLC RIA/Wealth	$423.0 81.0 shares

Exited Positions

Institution	Previous Position
AMERIPRISE FINANCIAL INC Institution	$1.4M 410.9K shares
HARBOURVEST PARTNERS LLC Fund of Funds	$1.0M 296.4K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$1.0M 290.6K shares
X XTX Topco Ltd Institution	$834.7K 241.2K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$588.9K 170.2K shares
UBS OCONNOR LLC Long Only Manager	$439.5K 127.0K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$302.9K 87.6K shares
Marshall Wace LLP Institution	$178.9K 51.7K shares
T TrueMark Investments, LLC Institution	$171.7K 49.6K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$137.6K 39.8K shares

Options Activity

Institutions with the largest Call and Put options positions in RLAY as of Q3 2025

Call Positions: 5
Call Value: $3.7M
Put Positions: 1
Put Value: $77.8K

Call Positions

Institution	Position Value
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$3.4M 6.5K contracts
J JANE STREET GROUP, LLC Institution	$137.8K 264.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$91.9K 176.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$53.8K 103.0 contracts
Ausdal Financial Partners, Inc. RIA/Wealth	$52.2K 100.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$77.8K 149.0 contracts

Most Committed Institutions

Institutions with RLAY as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Casdin Capital, LLC Hedge Fund•Sector	Eli D Casdin Managing Partner	5.12% $59.2M	6.58% 11.3M shares	Q3 2020 Held for 5y 2m	$1.2B
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	4.33% $88.7M	9.86% 17.0M shares	Q2 2025 Held for 5 months	$2.0B
N Nextech Invest, Ltd. Institution	-	3.06% $20.1M	2.23% 3.8M shares	Q1 2025 Held for 8 months	$657.0M
Foresite Capital Management IV, LLC Venture Capital	James Bruce Tananbaum CEO	2.86% $5.2M	0.58% 1.0M shares	Q3 2024 Held for 1y 2m	$182.6M
MPM Oncology Impact Management LP Institution	Christian Albrecht Wulf Von Schimmelmann Managing Partner	1.95% $11.9M	1.32% 2.3M shares	Q1 2023 Held for 2y 8m	$610.9M
T TANG CAPITAL MANAGEMENT LLC Institution	-	1.66% $42.1M	4.68% 8.1M shares	Q3 2024 Held for 1y 2m	$2.5B
K Kynam Capital Management, LP Hedge Fund•Long/Short	Jared Joseph Keller COO	1.12% $15.1M	1.67% 2.9M shares	Q4 2024 Held for 11 months	$1.3B
S SB INVESTMENT ADVISERS LTD Institution	-	1.10% $145.7M	16.19% 27.9M shares	Q3 2020 Held for 5y 2m	$13.2B
B Bellevue Group AG Institution	-	0.91% $43.6M	4.84% 8.3M shares	Q3 2020 Held for 5y 2m	$4.8B
Ikarian Capital, LLC Hedge Fund•Event Driven	Neil Tristan Shahrestani CEO	0.49% $2.4M	0.27% 467.4K shares	Q3 2024 Held for 1y 2m	$494.3M

Hedge Fund Spotlight

Discover hedge funds investing in RLAY

Kynam Capital Management, LP

Hedge Fund • Long/Short

Portfolio ManagerJared Joseph Keller

Portfolio Value: $1.3B
Positions: 35
Last Reported: Q3 2025

Sector Allocation

Position in Relay Therapeutics, Inc.

Market Value: $15.1M
Shares Held: 2.9M
Portfolio Weight: 1.12%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 Celldex Therapeutics CLDX	Biotechnology Healthcare	$157.8M	11.75%
2 Syndax Pharmaceuticals SNDX	Biotechnology Healthcare	$131.1M	9.76%
3 Vera Therapeutics VERA	Biotechnology Healthcare	$117.0M	8.71%