Relay Therapeutics
RLAY
227 hedge funds and large institutions have $1.47B invested in Relay Therapeutics in 2025 Q4 according to their latest regulatory filings, with 50 funds opening new positions, 68 increasing their positions, 57 reducing their positions, and 20 closing their positions.
2,229% more call options, than puts
Call options by funds: $5.66M | Put options by funds: $243K
150% more first-time investments, than exits
New positions opened: 50 | Existing positions closed: 20
70% more capital invested
Capital invested by funds: $867M → $1.47B (+$605M)
60% more funds holding in top 10
Funds holding in top 10: 5 → 8 (+3)
19% more repeat investments, than reductions
Existing positions increased: 68 | Existing positions reduced: 57
14% more funds holding
Funds holding: 199 → 227 (+28)
4.04% more ownership
Funds ownership: 96.38% → 100.42% (+4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PA
Perceptive Advisors
New York
|
+$13.6M |
| 2 |
CC
Casdin Capital
New York
|
+$11.9M |
| 3 |
TCM
TCG Crossover Management
Palo Alto,
California
|
+$10.1M |
| 4 |
State Street
Boston,
Massachusetts
|
+$9.71M |
| 5 |
ECM
ExodusPoint Capital Management
New York
|
+$8.15M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TCM
Tang Capital Management
San Diego,
California
|
-$42.1M |
| 2 |
KCM
Kynam Capital Management
Princeton,
New Jersey
|
-$10.4M |
| 3 |
Point72 Asset Management
Stamford,
Connecticut
|
-$6.53M |
| 4 |
BlackRock
New York
|
-$3.79M |
| 5 |
Renaissance Technologies
New York
|
-$2.68M |
RLAY Hedge Fund Activity: Q4 2025 in Review
227 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in Relay Therapeutics (RLAY) for Q4 2025, worth a combined $1.47B — up 70% from $867M a quarter earlier.
Buyers outnumbered sellers: 50 funds opened new RLAY positions and 20 closed out — a net gain of 30 holders — while 68 added to existing stakes and 57 trimmed.
The largest buyer was Perceptive Advisors, opening a new position worth an estimated $13.6M. The largest seller was Tang Capital Management, exiting entirely with an estimated $42.1M sold.
- 227 institutional investors held Relay Therapeutics (RLAY) as of Q4 2025, up from 199 in Q3 2025.
- Funds reported $1.47B of Relay Therapeutics stock for Q4 2025, up 70% quarter-over-quarter.
- 50 funds opened new Relay Therapeutics positions in Q4 2025 and 20 closed out, a net change of +30 holders.
- The largest Relay Therapeutics buyer in Q4 2025 was Perceptive Advisors, an estimated $13.6M added.
- The largest Relay Therapeutics seller in Q4 2025 was Tang Capital Management, an estimated $42.1M sold.
Based on aggregated 13F filings for Q4 2025.