Analysts Set Relay Therapeutics, Inc. (NASDAQ:RLAY) PT at $25.17

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $25.5833.

A number of equities research analysts have recently issued reports on RLAY shares. Barclays boosted their price target on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Citizens Jmp raised their target price on Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Monday. Zacks Research downgraded Relay Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th.

Insiders Place Their Bets

In related news, CEO Sanjiv Patel sold 48,199 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the sale, the chief executive officer directly owned 615,898 shares in the company, valued at approximately $12,059,282.84. This trade represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 187,163 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the transaction, the chief financial officer directly owned 177,461 shares in the company, valued at $3,011,513.17. The trade was a 51.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 427,356 shares of company stock worth $7,461,240 over the last quarter. Company insiders own 5.04% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC increased its holdings in shares of Relay Therapeutics by 1.1% during the 1st quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock worth $1,431,000 after purchasing an additional 1,588 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Relay Therapeutics by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock valued at $71,000 after buying an additional 1,757 shares during the last quarter. Abel Hall LLC lifted its stake in shares of Relay Therapeutics by 16.2% in the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock valued at $110,000 after buying an additional 1,809 shares during the period. Allworth Financial LP bought a new stake in shares of Relay Therapeutics in the second quarter valued at about $34,000. Finally, Cresset Asset Management LLC grew its position in Relay Therapeutics by 5.0% during the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after buying an additional 1,848 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Trading Up 0.3%

Shares of RLAY opened at $19.99 on Friday. The business’s 50-day moving average price is $17.91 and its 200 day moving average price is $13.70. The stock has a market capitalization of $4.38 billion, a P/E ratio of -12.73 and a beta of 1.69. Relay Therapeutics has a 1-year low of $3.24 and a 1-year high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. On average, research analysts predict that Relay Therapeutics will post -1.57 earnings per share for the current year.

Relay Therapeutics Company Profile

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.