Relay Therapeutics (NASDAQ:RLAY) Given New $21.00 Price Target at Barclays

Relay Therapeutics (NASDAQ:RLAY) had its price target raised by investment analysts at Barclays from $17.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 46.57% from the stock’s current price.

A number of other research firms have also recently weighed in on RLAY. HC Wainwright upped their price target on Relay Therapeutics from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Guggenheim boosted their price objective on Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. Citizens Jmp increased their target price on Relay Therapeutics from $15.00 to $17.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 17th. Finally, Oppenheimer reissued an “outperform” rating on shares of Relay Therapeutics in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.43.

Relay Therapeutics Price Performance

RLAY stock traded up $0.85 during midday trading on Wednesday, hitting $14.33. 1,464,141 shares of the stock traded hands, compared to its average volume of 2,599,170. The firm has a market cap of $2.56 billion, a P/E ratio of -8.79 and a beta of 1.57. The stock’s fifty day simple moving average is $9.66 and its 200-day simple moving average is $8.02. Relay Therapeutics has a 1-year low of $1.82 and a 1-year high of $14.40.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.06. The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $4.34 million. On average, research analysts predict that Relay Therapeutics will post -2.55 earnings per share for the current year.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 13,820 shares of the business’s stock in a transaction that occurred on 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 approximately $1,912,589.52. The trade was a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald A. Bergstrom sold 18,895 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $143,979.90. Following the sale, the insider owned 422,733 shares of the company’s stock, valued at approximately $3,221,225.46. This trade represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 50,134 shares of company stock worth $386,781. Corporate insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

Several large investors have recently bought and sold shares of RLAY. AQR Capital Management LLC lifted its stake in shares of Relay Therapeutics by 11.9% in the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after buying an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Relay Therapeutics by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after buying an additional 5,238 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Relay Therapeutics by 14.6% in the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after buying an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Relay Therapeutics in the first quarter worth about $53,000. Finally, Woodline Partners LP lifted its stake in shares of Relay Therapeutics by 448.4% in the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after buying an additional 1,241,657 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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.