Relay Therapeutics (NASDAQ:RLAY) Upgraded to “Strong-Buy” at JonesTrading

JonesTrading upgraded shares of Relay Therapeutics (NASDAQ:RLAY) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

RLAY has been the topic of a number of other research reports. Barclays increased their price target on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group increased their price target on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. UBS Group set a $26.00 price target on Relay Therapeutics in a research note on Tuesday. Citizens Jmp increased their price target on Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a research note on Wednesday. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $22.60.

Relay Therapeutics Stock Performance

NASDAQ:RLAY opened at $13.02 on Tuesday. The stock’s fifty day moving average price is $12.62 and its two-hundred day moving average price is $9.66. Relay Therapeutics has a 52-week low of $2.75 and a 52-week high of $17.32. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -8.29 and a beta of 1.74.

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

Insider Buying and Selling

In related news, CFO Thomas Catinazzo sold 17,717 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62. Following the sale, the chief financial officer owned 195,178 shares of the company’s stock, valued at approximately $2,509,989.08. This trade represents a 8.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 40,449 shares of company stock worth $532,889. Company insiders own 5.04% of the company’s stock.

Institutional Trading of Relay Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Commodore Capital LP raised its stake in Relay Therapeutics by 27.3% during the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after buying an additional 3,650,000 shares during the period. Casdin Capital LLC increased its holdings in Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after purchasing an additional 1,662,193 shares in the last quarter. Vanguard Group Inc. increased its holdings in Relay Therapeutics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after purchasing an additional 295,701 shares in the last quarter. Bellevue Group AG increased its holdings in Relay Therapeutics by 1.4% during the 3rd quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock worth $43,564,000 after purchasing an additional 114,740 shares in the last quarter. Finally, State Street Corp increased its holdings in Relay Therapeutics by 26.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

More Relay Therapeutics News

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: Relay reported encouraging Phase 2 ReInspire data for zovegalisib in PIK3CA-driven vascular anomalies, including a 60% volumetric response rate across doses, broad symptom improvement, and a tolerability profile that could support chronic use. GlobeNewswire release on initial clinical data
• Positive Sentiment: Reuters and other market coverage highlighted that the mid-stage results showed the experimental treatment can shrink vascular malformations and improve symptoms, reinforcing investor optimism around the drug’s commercial potential. Reuters article
• Positive Sentiment: Analysts responded favorably, with Citizens JMP raising its price target to $21 and Raymond James lifting its target to $26, while both kept bullish ratings. Analyst price target updates via Benzinga
• Neutral Sentiment: Unusually heavy options activity showed traders positioning for more volatility, with a sharp rise in put volume suggesting some caution even as the stock rallied.
• Negative Sentiment: Relay announced a proposed $175 million common stock offering, which can pressure the share price in the near term due to dilution concerns, even though it also strengthens the balance sheet. GlobeNewswire offering announcement

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.