Alphabet Inc. disclosed a new stake in Relay Therapeutics on August 18, 2026. The tech giant purchased 1.41 million shares during the second quarter. This investment is valued at approximately $26.4 million.
Alphabet now holds a 0.74% stake in the biotechnology company. Relay Therapeutics shares have climbed 134.8% since the start of the year. Investor interest focuses on zovegalisib, a lead candidate for treating advanced breast cancer.
Wall Street analysts maintain a consensus Moderate Buy rating on the stock. The average price target for the company currently sits at $25.83.