Relay Therapeutics (NASDAQ:RLAY) Price Target Raised to $21.00 at Citizens Jmp

Relay Therapeutics (NASDAQ:RLAY) had its target price raised by equities research analysts at Citizens Jmp from $19.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s target price points to a potential upside of 73.99% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research note on Tuesday. Guggenheim boosted their price target on shares of Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Barclays restated an “overweight” rating and set a $27.00 price objective on shares of Relay Therapeutics in a research report on Wednesday. Finally, HC Wainwright increased their price objective on shares of Relay Therapeutics from $19.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.60.

Relay Therapeutics Stock Down 0.2%

NASDAQ:RLAY opened at $12.07 on Wednesday. Relay Therapeutics has a 52 week low of $2.75 and a 52 week high of $17.32. The stock’s 50-day moving average price is $12.56 and its 200-day moving average price is $9.62. The stock has a market capitalization of $2.31 billion, a PE ratio of -7.69 and a beta of 1.74.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. Sell-side analysts expect that Relay Therapeutics will post -1.6 earnings per share for the current fiscal year.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62. Following the completion of the sale, the chief financial officer directly owned 195,178 shares in the company, valued at approximately $2,509,989.08. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 40,449 shares of company stock worth $532,889 in the last three months. 5.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLAY. Commodore Capital LP grew its stake in Relay Therapeutics by 27.3% during the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock valued at $88,740,000 after acquiring an additional 3,650,000 shares in the last quarter. Casdin Capital LLC boosted its holdings in shares of Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after purchasing an additional 1,662,193 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Relay Therapeutics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after purchasing an additional 295,701 shares in the last quarter. Bellevue Group AG grew its position in shares of Relay Therapeutics by 1.4% in the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock valued at $43,564,000 after purchasing an additional 114,740 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Relay Therapeutics by 26.8% in the fourth quarter. State Street Corp now owns 6,426,111 shares of the company’s stock valued at $54,365,000 after purchasing an additional 1,360,121 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics News Roundup

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: Relay Therapeutics’ zovegalisib showed promising early efficacy and tolerability in vascular anomalies, strengthening the case for a broader commercial opportunity. Article: Relay Therapeutics Announces Initial Clinical Data Demonstrating That Zovegalisib Has Potential for Differentiated Safety and Efficacy in Patients with PIK3CA-Driven Vascular Anomalies
• Positive Sentiment: Raymond James raised its price target on RLAY to $26 and reiterated a strong-buy view, reflecting optimism around the pipeline. Article: Relay Therapeutics price target raised by Raymond James
• Neutral Sentiment: The company said it has a sizable cash position and runway into 2029, which reduces near-term financing concerns, but this was largely offset by the announced $175 million stock offering. Article: Relay Therapeutics Announces Proposed Public Offering of Common Stock
• Negative Sentiment: Relay launched a proposed public offering of common stock, which can dilute existing shareholders and pressure the stock in the near term. Article: Relay Therapeutics Announces Proposed Public Offering of Common Stock

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.