Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Consensus Rating of “Buy” by Analysts

Relay Therapeutics, Inc. (NASDAQ:RLAY) has received a consensus rating of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $23.30.

Several equities research analysts have issued reports on the company. HC Wainwright lifted their price target on Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. UBS Group set a $26.00 price target on Relay Therapeutics in a research note on Tuesday, May 19th. Citizens Jmp lifted their price target on Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 20th. Wells Fargo & Company lifted their price target on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th.

Insider Activity

In other news, CFO Thomas Catinazzo sold 187,163 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.97, for a total value of $3,176,156.11. Following the completion of the sale, the chief financial officer owned 177,461 shares of the company’s stock, valued at approximately $3,011,513.17. The trade was a 51.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald A. Bergstrom sold 93,456 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.94, for a total value of $1,583,144.64. Following the completion of the sale, the insider directly owned 418,557 shares of the company’s stock, valued at approximately $7,090,355.58. This trade represents a 18.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 321,068 shares of company stock valued at $5,292,189. Corporate insiders own 5.04% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Seven Fleet Capital Management LP lifted its stake in shares of Relay Therapeutics by 253.1% in the 1st quarter. Seven Fleet Capital Management LP now owns 257,738 shares of the company’s stock valued at $2,564,000 after acquiring an additional 184,738 shares during the last quarter. Perceptive Advisors LLC lifted its stake in shares of Relay Therapeutics by 412.3% in the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after acquiring an additional 7,847,896 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Relay Therapeutics by 86.1% in the 1st quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock valued at $19,280,000 after acquiring an additional 896,746 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Relay Therapeutics by 77.8% in the 1st quarter. Janus Henderson Group PLC now owns 65,573 shares of the company’s stock valued at $652,000 after acquiring an additional 28,700 shares during the last quarter. Finally, Amundi bought a new stake in shares of Relay Therapeutics in the 1st quarter valued at about $213,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Up 4.1%

Shares of RLAY stock opened at $18.56 on Friday. The business has a 50-day moving average price of $14.52 and a two-hundred day moving average price of $11.16. Relay Therapeutics has a 12-month low of $3.03 and a 12-month high of $18.94. The firm has a market cap of $3.56 billion, a P/E ratio of -11.82 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $5.58 million. As a group, research analysts expect that Relay Therapeutics will post -1.55 EPS for the current fiscal year.

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.