Analysts Set Relay Therapeutics, Inc. (NASDAQ:RLAY) PT at $16.57

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $16.5714.

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. Wells Fargo & Company raised shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $6.00 to $13.00 in a report on Friday, December 12th. Finally, Oppenheimer upgraded shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price target for the company in a research report on Monday, January 26th.

Relay Therapeutics Stock Down 2.6%

Shares of RLAY stock opened at $8.86 on Friday. Relay Therapeutics has a twelve month low of $1.77 and a twelve month high of $9.54. The stock’s fifty day simple moving average is $8.25 and its 200 day simple moving average is $6.48. The firm has a market capitalization of $1.54 billion, a P/E ratio of -5.06 and a beta of 1.59.

Insider Buying and Selling

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 18,895 shares of Relay Therapeutics stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $143,979.90. Following the transaction, the insider directly owned 422,733 shares of the company’s stock, valued at approximately $3,221,225.46. The trade was a 4.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjiv Patel sold 43,168 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total value of $337,573.76. Following the completion of the sale, the chief executive officer directly owned 661,041 shares of the company’s stock, valued at approximately $5,169,340.62. The trade was a 6.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 93,302 shares of company stock valued at $724,355 in the last quarter. 4.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. increased its position in shares of Relay Therapeutics by 139.6% during the fourth quarter. Invesco Ltd. now owns 865,481 shares of the company’s stock worth $7,322,000 after buying an additional 504,291 shares during the period. EP Wealth Advisors LLC acquired a new position in Relay Therapeutics in the fourth quarter valued at $106,000. XTX Topco Ltd bought a new stake in Relay Therapeutics during the fourth quarter valued at $1,332,000. VARCOV Co. acquired a new stake in Relay Therapeutics during the 4th quarter worth about $248,000. Finally, Tudor Investment Corp ET AL raised its position in shares of Relay Therapeutics by 10.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 84,163 shares of the company’s stock worth $712,000 after acquiring an additional 7,717 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.