What is the 13F Pro Quality Score for RLAY?

13F Pro ranks Relay Therapeutics, Inc. (RLAY) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View RLAY's current score at https://13fpro.ai/research/RLAY (free sign-up required for the full ranking).

Which hedge funds own the most RLAY stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of RLAY include SB INVESTMENT ADVISERS (UK) LTD, Commodore Capital, Casdin Capital,. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/RLAY as soon as new 13F filings post.

Where does 13F Pro source RLAY data?

All Relay Therapeutics, Inc. fundamentals and ownership data come directly from SEC EDGAR. Relay Therapeutics, Inc. files with the SEC under CIK 1812364. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is RLAY in?

Relay Therapeutics, Inc. (RLAY) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is RLAY research updated on 13F Pro?

RLAY's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Relay Therapeutics, Inc.(RLAY)Stock Analysis

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13F Pro Quality Score

12.7/100

Rank #2,778 of 2,879 stocks

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

30.0/100

Profitability

1.4/100

Balance Sheet

3.7/100

Earnings Quality

30.0/100

Free Cash Flow

1.3/100

Institutional Flow

71.3/100

Revenue Scale

3.9/100

Dilution Risk

1.2/100

RLAY Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Relay Therapeutics, Inc. (RLAY), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores RLAY at 12.7/100 on a 32-signal composite quality model, placing it at rank #2,778 of 2,879 stocks — the bottom half of the AI-ranked universe. Areas of concern include free cash flow (1.3) and profitability (1.4), which score below median versus the broader universe. Shareholder dilution risk is elevated at 1.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Relay Therapeutics, Inc. reports quarterly revenue of $3.0M, net income of $-73.3M, free cash flow of $-51.1M. Top institutional holders of RLAY by reported 13-F value include SB INVESTMENT ADVISERS (UK) LTD, Commodore Capital, Casdin Capital,, based on the most recent SEC filings. RLAY trades on the Nasdaq exchange and files with the SEC under CIK 1812364. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate RLAY daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Relay Therapeutics, Inc. directly from SEC EDGAR. Relay Therapeutics, Inc.'s 13F Pro composite quality score has ranged between 7 and 40 since 2021, currently 12.7 — a declining long-term trajectory across 56 quarterly and live scoring snapshots.

✦

Fun facts about Relay Therapeutics, Inc.

Quirks, history, and lore behind RLAY — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. clinical-stage biopharmaceutical company · listed on Nasdaq · headquartered in Cambridge, Massachusetts · focused on precision oncology.
2
The Numbers
Like most clinical-stage biotechs, it carries no product revenue and burns through hundreds of millions in R&D annually — the pipeline IS the business.
3
The History
Founded around 2016, it emerged from a collaboration between computational biologists and drug hunters who believed protein motion — not just protein shape — held the key to new medicines.
4
The Secret
Its core platform treats proteins as dynamic, moving machines rather than static structures, letting it drug targets that traditional structure-based approaches called "undruggable."
5
The Lore
It was co-founded with deep ties to D.E. Shaw Research, the computational science lab famous for building a custom supercomputer just to simulate protein dynamics at atomic resolution.
6
The Giveaway
Its name literally means to pass the baton — fitting for a company whose motion-based drug discovery platform hands off insights from physics simulations straight into the clinic.

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Revenue

Q1 2026

$3.0M

Net Income

Q1 2026

$-73.3M

Free Cash Flow

Q1 2026

$-51.1M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+53.4% YoY

$15.4MFY 2025

FY20 $82.7MFY23 $25.5MFY24 $10.0MFY25 $15.4M

Net Income

+18.1% YoY

$-276.5MFY 2025

FY20 $-52.4MFY23 $-342.0MFY24 $-337.7MFY25 $-276.5M

Operating Income

+18.7% YoY

$-302.7MFY 2025

FY20 $-55.8MFY23 $-373.0MFY24 $-372.5MFY25 $-302.7M

EPS (Diluted)

+31.8% YoY

$-1.61FY 2025

FY20 $-5.40FY23 $-2.79FY24 $-2.36FY25 $-1.61

Total Assets

-28.7% YoY

$621.3MFY 2025

FY20 $799.8MFY23 $844.0MFY24 $871.3MFY25 $621.3M

Op. Cash Flow

+5.5% YoY

$-235.5MFY 2025

FY20 $-102.5MFY23 $-300.3MFY24 $-249.1MFY25 $-235.5M

Metric	FY 2025	FY 2024	FY 2023	FY 2020	FY 2019	FY 2018
Revenue	$15.4M +53.4%	$10.0M -60.8%	$25.5M -69.1%	$82.7M	—	—
Net Income	$-276.5M +18.1%	$-337.7M +1.2%	$-342.0M -552.5%	$-52.4M +30.4%	$-75.3M	—
Operating Income	$-302.7M +18.7%	$-372.5M +0.1%	$-373.0M -568.5%	$-55.8M +33.6%	$-84.0M	—
EPS (Diluted)	$-1.61 +31.8%	$-2.36 +15.4%	$-2.79 +48.3%	$-5.40	—	—
Total Assets	$621.3M -28.7%	$871.3M +3.2%	$844.0M +5.5%	$799.8M +103.5%	$393.1M	—
Operating Cash Flow	$-235.5M +5.5%	$-249.1M +17.1%	$-300.3M -193.0%	$-102.5M -55.0%	$-66.1M	—

AI Insight: RLAY Financial Trends

Relay Therapeutics burns through equity steadily, but Q4 2025's $55M net loss marks the smallest quarterly loss in the observed period.

• Net loss narrowed from $-92M in Q2 2024 to a low of $-55M in Q4 2025, suggesting gradual expense discipline.

• Equity has declined from $839M in Q3 2024 to $642M in Q1 2026, reflecting sustained cash burn with no debt financing visible.

• Revenue remains negligible and erratic — peaking at $8M in Q1 2025 and returning to near-zero in Q3 2025 — with no recurring commercial base.

• Operating cash outflow improved from $-75M in Q3 2024 to $-45M in Q4 2025, before ticking back to $-51M in Q1 2026.

⚠ Net loss rebounded to $-73M in Q1 2026 after Q4 2025's relative low — possible one-quarter anomaly worth monitoring.

⚠ Equity runway at $642M with ~$60–75M quarterly burn implies roughly 8–10 quarters before potential capital raise pressure.

⚠ Revenue spikes ($8M Q1 2025, $7M Q4 2025) likely reflect milestone or collaboration payments — sustainability is unconfirmed.

AI Insight: RLAY Ratio Trends

RLAY's return metrics remain deeply negative across all periods, with no clear improvement trend since Q2 2024.

• ROE improved from -54.1% in Q2 2024 to -38.7% in Q4 2025, suggesting modest burn-rate reduction over that span.

• ROIC has oscillated between -42.8% and -59.1% since Q2 2024 — no sustained directional improvement is visible.

• OpMargin, NPM, and D/E are unavailable across all periods, leaving capital efficiency as the only visible performance lens.

⚠ ROE and ROIC deteriorated sharply in Q3 2025 (-48.8% ROIC) before partially recovering in Q4 2025 — volatility warrants monitoring.

⚠ Q1 2026 ROIC of -48.9% reversed Q4 2025's improvement, signaling renewed capital consumption pressure heading into 2026.

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Available Research

13F Pro tracks comprehensive data for Relay Therapeutics, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of RLAY

SB INVESTMENT ADVISERS (UK) LTD
$277.7M27,904,963 sh
Commodore Capital LP
$169.2M17,000,000 sh
Casdin Capital, LLC
$143.5M14,418,574 sh
BlackRock, Inc.
$129.1M12,975,299 sh
PERCEPTIVE ADVISORS LLC
$97.0M9,751,141 sh
Bellevue Group AG
$77.6M7,795,242 sh
VANGUARD CAPITAL MANAGEMENT LLC
$73.5M7,387,465 sh
STATE STREET CORP
$62.0M6,233,545 sh
Nextech Invest, Ltd.
$55.0M5,526,506 sh
TCG Crossover Management, LLC
$42.5M4,273,356 sh

Fund	Value	Shares
SB INVESTMENT ADVISERS (UK) LTD	$277.7M	27,904,963
Commodore Capital LP	$169.2M	17,000,000
Casdin Capital, LLC	$143.5M	14,418,574
BlackRock, Inc.	$129.1M	12,975,299
PERCEPTIVE ADVISORS LLC	$97.0M	9,751,141
Bellevue Group AG	$77.6M	7,795,242
VANGUARD CAPITAL MANAGEMENT LLC	$73.5M	7,387,465
STATE STREET CORP	$62.0M	6,233,545
Nextech Invest, Ltd.	$55.0M	5,526,506
TCG Crossover Management, LLC	$42.5M	4,273,356

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Is RLAY a good stock to buy?

13F Pro's AI-powered analysis of Relay Therapeutics, Inc. (RLAY) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for RLAY are available on the RLAY stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own RLAY?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling RLAY. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Relay Therapeutics, Inc.'s investment landscape.