JPMorgan Chase & Co. Issues Positive Forecast for Relay Therapeutics (NASDAQ:RLAY) Stock Price

Relay Therapeutics (NASDAQ:RLAY) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $28.00 to $31.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 56.72% from the company’s current price.

RLAY has been the topic of several other reports. Citizens Jmp upped their target price on Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a report on Monday. Oppenheimer raised their price target on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Relay Therapeutics Price Performance

NASDAQ RLAY traded down $0.15 on Friday, reaching $19.78. The company had a trading volume of 400,027 shares, compared to its average volume of 3,202,073. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -12.59 and a beta of 1.69. Relay Therapeutics has a fifty-two week low of $3.31 and a fifty-two week high of $20.79. The business has a 50 day moving average of $18.11 and a two-hundred day moving average of $13.88.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $0.96 million. As a group, research analysts predict that Relay Therapeutics will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Peter Rahmer sold 50,000 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total transaction of $954,500.00. Following the transaction, the insider directly owned 225,857 shares of the company’s stock, valued at $4,311,610.13. This represents a 18.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 187,163 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.97, for a total transaction 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 $3,011,513.17. The trade was a 51.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 409,639 shares of company stock valued at $7,233,399 over the last 90 days. 5.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in RLAY. Torren Management LLC acquired a new stake in shares of Relay Therapeutics in the 4th quarter valued at about $30,000. KBC Group NV acquired a new position in Relay Therapeutics during the 1st quarter worth approximately $34,000. Allworth Financial LP bought a new position in Relay Therapeutics in the second quarter worth approximately $34,000. Smartleaf Asset Management LLC boosted its holdings in Relay Therapeutics by 288.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after acquiring an additional 3,287 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Relay Therapeutics in the fourth quarter valued at approximately $46,000. Institutional investors own 96.98% of the company’s 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.