Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Relay Therapeutics Inc (RLAY)

238 + Investors. Track Smart Money conviction in RLAY. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +17
Streak
2Q ▲
Buyers last Q
61%

Smart Money Signals — RLAY

Based on 239 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added RLAY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
239 hedge funds hold RLAY right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +17% more funds vs a year ago

fund count last 6Q
+34 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢

More buyers than sellers — 61% buying

142 buying90 selling
Last quarter: 142 funds were net buyers (50 opened a brand new position + 92 added to an existing one). Only 90 were sellers (57 trimmed + 33 sold completely). A clear majority buying is a strong confirmation signal.
➡️

Steady new buyers — ~50 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 32 → 22 → 50 → 50. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

45% of holders stayed for 2+ years

■ 45% conviction (2yr+) ■ 30% medium ■ 26% new
107 out of 239 hedge funds have held RLAY for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Value +24% but shares only +7% — price-driven

Value
+24%
Shares
+6%
Last quarter: the total dollar value of institutional holdings rose +24%, but actual share count only changed +7%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀

Acceleration phase — new buyers rushing in

36 → 32 → 22 → 50 → 50 new funds/Q
New funds entering each quarter: 32 → 22 → 50 → 50. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️

Deep conviction — 55% of holders stayed 2+ years

■ 55% veterans ■ 13% 1-2yr ■ 32% new
Of 244 current holders: 135 (55%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
📋

Smaller funds dominant — 18% AUM from top-100

18% from top-100 AUM funds
45 of 239 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
3.9
out of 10
Low Exit Risk
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — RLAY

In 2026 Q1, 142 hedge funds were net buyers of RLAY (50 opened a new position, 92 added to an existing one), while 90 reduced or exited (57 trimmed, 33 sold completely) — a 61% buyer ratio, indicating clear institutional accumulation. Net buying has persisted for two consecutive quarters, a positive momentum signal. Net fund flow last quarter: +17 funds (more new holders than closures). Total institutional holders: 239.

Hedge Fund Ownership: RLAY

How many hedge funds hold RLAY — quarterly history vs. share price
Quarterly hedge fund ownership of RLAY vs. share price

Market Analysis: RLAY

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: RLAY

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Relay Therapeutics Inc (RLAY) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much RLAY has moved relative to its sector benchmark (XLV) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 75d ago
RLAY
+48.8%
XLV
+4.9%

RLAY outperformed XLV by +43.9% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 30d ago
RLAY
+21.4%
XLV
+6.0%

Since the filing became public, RLAY outperformed XLV by +15.4% .

Interpretation: The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

23 top-rated funds 5 high-conviction
Consensus
6.0
/ 10
breadth
×
Elite
4.0
/ 10
conviction
Hedge Fund Positioning: RLAY
238 + Investors

Track Smart Money conviction in RLAY. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 238 222 7.21%
13F Shares 186M 174M 6.52%
Total Value $1.81B $1.46B 24.35%
New Positions 49 50 -1
Increased Positions 90 69 +21
Closed Positions 33 24 +9
Reduced Positions 54 58 -4
Total Calls 3 4 -25.0%
Total Puts 2 1 100.0%
PUT/CALL Ratio 0.67 0.25 Bullish

Statistics: RLAY

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Valuation Measures Data as of: --

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

238 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in RLAY. Verified SEC 13F-HR filings.

QUARTER:
Top 25 RLAY holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Casdin Capital, LLC 10.86% 14,418,574 $143.5M
2 Commodore Capital LP 9.79% 17,000,000 $169.2M
3 Kalehua Capital Management LLC 7.56% 901,457 $9.0M
4 Spruce Street Capital LP 7.14% 2,984,125 $29.7M
5 Foresite Capital Management IV, LLC 4.20% 1,000,000 $9.9M
6 Nextech Invest, Ltd. 3.87% 5,526,506 $55.0M
7 Sb Investment Advisers (uk) Ltd 3.59% 27,904,963 $277.7M
8 Squadron Capital Management LLC 2.45% 672,500 $6.7M
9 Perceptive Advisors LLC 1.90% 9,751,141 $97.0M
10 Bellevue Group AG 1.85% 7,795,242 $77.6M
11 MPM BioImpact LLC 1.81% 2,359,586 $23.5M
12 Elmind Capital, LP 1.52% 536,946 $5.3M
13 Exome Asset Management LLC 1.43% 278,302 $2.8M
14 TCG Crossover Management, LLC 1.22% 4,273,356 $42.5M
15 HighVista Strategies LLC 1.16% 421,881 $4.2M
16 Kynam Capital Management, LP 0.87% 1,424,259 $14.2M
17 Seven Fleet Capital Management LP 0.81% 257,738 $2.6M
18 EcoR1 Capital, LLC 0.80% 1,904,762 $19.0M
19 Sphera Funds Management LTD. 0.65% 408,436 $4.1M
20 Squadron Capital Management LLC 0.55% 150,000 $1.5M
21 Rhenman & Partners Asset Management AB 0.44% 360,000 $3.6M
22 Alphabet Inc. 0.39% 1,564,173 $15.6M
23 Logos Global Management LP 0.37% 750,000 $7.5M
24 Tetragon Partners GP Ltd 0.35% 181,543 $1.8M
25 Brandywine Managers, LLC 0.23% 38,429 $382K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Relay Therapeutics Inc (RLAY)

What does the Smart Money Trend signal show for RLAY?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added RLAY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for RLAY?

More buyers than sellers — 61% buying: Last quarter: 142 funds were net buyers (50 opened a brand new position + 92 added to an existing one). Only 90 were sellers (57 trimmed + 33 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for RLAY holders?

Smaller funds dominant — 18% AUM from top-100: 45 of 239 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held RLAY?

45% of holders stayed for 2+ years: 107 out of 239 hedge funds have held RLAY for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Relay Therapeutics Inc (RLAY) following the 2026 Q1 hedge fund 13F filings?

As of today, RLAY has moved +21.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +6.0% for the XLV sector ETF — an outperformance of +15.4%. Since the quarter end (March 31, 2026), RLAY has gained +48.8% vs +4.9% for XLV. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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