Key Points
Nextech Invest increased its stake in Relay Therapeutics by 855,097 shares; the estimated trade value was ~$6.1 million based on average quarterly pricing.
Quarter-end position value rose by $19.7 million, reflecting both new share purchases and stock price moves.
The transaction represented 0.59% of 13F reportable assets under management.
Post-trade holding: 4,701,506 shares, valued at $39.77 million.
Relay Therapeutics now accounts for 3.85% of Nextech Invest, Ltd.’s 13F AUM, placing it outside the fund’s top five holdings.
What happened
According to a Securities and Exchange Commission (SEC) filing dated Feb. 17, 2026, Nextech Invest, Ltd. bought 855,097 additional shares of Relay Therapeutics(NASDAQ:RLAY). The estimated transaction value for the period, based on the average unadjusted closing price for the quarter ended Dec. 31, 2025, was approximately $6.1 million. The fund’s quarter-end position value increased by $19.7 million, reflecting both share purchases and changes in market price.
What else to know
- This purchase brings Relay Therapeutics to 3.9% of Nextech’s reportable 13F assets under management.
- Top holdings after the filing:
- NASDAQ:RVMD: $605.43 million (58.5% of AUM)
- NASDAQ:TYRA: $106.63 million (10.3% of AUM)
- NASDAQ:TNGX: $64.38 million (6.2% of AUM)
- NASDAQ:ORIC: $58.59 million (5.7% of AUM)
- NASDAQ:ZYME: $29.33 million (2.8% of AUM)
- As of March 17, 2026, shares of Relay Therapeutics were priced at $9.93, up 197% over the past year, outperforming the S&P 500 by 181 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 3/18/26) | $9.93 |
| Market capitalization | $1.77 billion |
| Revenue (TTM) | $15.4 million |
| Net income (TTM) | ($276.5 million) |
Company Snapshot
- Relay Therapeutics develops precision medicines, with a pipeline focused on small molecule therapeutics for oncology and genetic diseases, including lead candidates RLY-4008 and RLY-2608.
- The company operates a clinical-stage business model, generating revenue primarily through collaboration and license agreements with pharmaceutical partners and leveraging proprietary computational modeling for drug discovery.
- Relay Therapeutics targets biopharmaceutical companies and healthcare providers involved in the treatment of advanced cancer and genetic diseases, with a focus on patients who require novel targeted therapies.
What this transaction means for investors
Nextech Invest's decision to add roughly $6 million worth of Relay Therapeutics shares is notable for a few reasons.
Nextech is a Switzerland-based investment firm known for its highly concentrated bets on clinical-stage biotech companies. One look at their portfolio tells you that clearly: a single holding -- Revolution Medicines(NASDAQ:RVMD) -- makes up nearly 59% of their entire reportable portfolio. This is a specialist fund that bets big when it has conviction. Against that backdrop, adding roughly $6 million in Relay Therapeutics reflects a deliberate increase in exposure, but still represents a relatively modest slice of Nextech’s overall portfolio. The larger position in Relay still doesn’t crack Nextech’s top-5 holdings.
Relay Therapeutics itself has had a remarkable run, nearly tripling over the past year. The company's computational drug discovery platform has drawn attention for its potential to de-risk early pipeline development -- a meaningful edge in an industry where most drugs fail before they reach patients.
For everyday investors, this type of institutional accumulation can serve as a useful data point -- not a buy signal in itself, but a reminder that sophisticated, sector-focused funds are paying attention. Investors looking for broader exposure to oncology-focused biotech without single-stock risk might consider sector ETFs like the SPDR S&P Biotech ETF(NYSEMKT:XBI) or the iShares Biotechnology ETF(NASDAQ:IBB) as a way to participate in the space more broadly. For those with higher risk tolerance, Relay's pipeline progress -- especially with RLY-2608 and RLY-4008 -- will be worth watching closely in 2026.
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Andy Gould has positions in SPDR Series Trust - SPDR S&P Biotech ETF. The Motley Fool recommends SPDR Series Trust - SPDR S&P Biotech ETF. The Motley Fool has a disclosure policy.
