Analysts Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Price Target at $15.40

Relay Therapeutics, Inc. (NASDAQ:RLAY) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.80.

RLAY has been the subject of several research reports. Guggenheim increased their target price on Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. Wells Fargo & Company upped their price target on Relay Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Oppenheimer upgraded Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a report on Monday, January 26th.

Insider Buying and Selling at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 43,168 shares of the company’s 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 sale, the chief executive officer directly owned 661,041 shares of the company’s stock, valued at $5,169,340.62. This represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Catinazzo sold 13,820 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $105,308.40. Following the completion of the sale, the chief financial officer directly owned 250,996 shares in the company, valued at $1,912,589.52. This represents a 5.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 93,302 shares of company stock worth $724,355. Corporate insiders own 4.87% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 1,757 shares in the last quarter. Abel Hall LLC lifted its holdings in shares of Relay Therapeutics by 16.2% during the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock valued at $110,000 after purchasing an additional 1,809 shares during the last quarter. Cresset Asset Management LLC boosted its position in shares of Relay Therapeutics by 5.0% in the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after purchasing an additional 1,848 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Relay Therapeutics by 8.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company’s stock worth $145,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Prelude Capital Management LLC grew its stake in shares of Relay Therapeutics by 18.7% in the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock worth $103,000 after buying an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY opened at $10.36 on Thursday. Relay Therapeutics has a 1 year low of $1.77 and a 1 year high of $11.49. The stock has a market capitalization of $1.85 billion, a P/E ratio of -6.40 and a beta of 1.55. The company’s 50-day moving average is $8.71 and its 200 day moving average is $7.21.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.06. The company had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $4.34 million. Research analysts anticipate that Relay Therapeutics will post -2.55 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.