Relay Therapeutics (NASDAQ:RLAY) Given New $26.00 Price Target at Raymond James Financial

Relay Therapeutics (NASDAQ:RLAY) had its target price lifted by investment analysts at Raymond James Financial from $23.00 to $26.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James Financial’s price objective suggests a potential upside of 113.38% from the stock’s previous close.

Several other research firms also recently weighed in on RLAY. Guggenheim raised their price target on shares of Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. The Goldman Sachs Group raised their price target on shares of Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research note on Tuesday. Citizens Jmp raised their price target on shares of Relay Therapeutics from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 28th. Finally, JonesTrading assumed coverage on shares of Relay Therapeutics in a research report on Tuesday, April 14th. They set a “hold” rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $21.80.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY traded up $0.09 during midday trading on Tuesday, hitting $12.19. The company’s stock had a trading volume of 15,017,578 shares, compared to its average volume of 2,899,922. The business’s 50 day simple moving average is $12.52 and its 200 day simple moving average is $9.59. The company has a market cap of $2.33 billion, a P/E ratio of -7.74 and a beta of 1.74. Relay Therapeutics has a 12-month low of $2.75 and a 12-month high of $17.32.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. On average, sell-side analysts predict that Relay Therapeutics will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value of $227,840.62. Following the transaction, the chief financial officer owned 195,178 shares of the company’s stock, valued at $2,509,989.08. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 40,449 shares of company stock valued at $532,889 over the last 90 days. Corporate insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Commodore Capital LP lifted its position in Relay Therapeutics by 27.3% in the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock valued at $88,740,000 after buying an additional 3,650,000 shares during the last quarter. Casdin Capital LLC lifted its position in Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after buying an additional 1,662,193 shares during the last quarter. Vanguard Group Inc. lifted its position in Relay Therapeutics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after buying an additional 295,701 shares during the last quarter. Bellevue Group AG lifted its position in Relay Therapeutics by 1.4% in the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock valued at $43,564,000 after buying an additional 114,740 shares during the last quarter. Finally, State Street Corp increased its stake in Relay Therapeutics by 26.8% during the fourth quarter. State Street Corp now owns 6,426,111 shares of the company’s stock worth $54,365,000 after purchasing an additional 1,360,121 shares during the period. 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.