Citizens Jmp Increases Relay Therapeutics (NASDAQ:RLAY) Price Target to $26.00

Relay Therapeutics (NASDAQ:RLAY) had its price objective boosted by equities research analysts at Citizens Jmp from $21.00 to $26.00 in a report released on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would indicate a potential upside of 31.51% from the stock’s current price.

RLAY has been the subject of a number of other research reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. HC Wainwright increased their target price on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Zacks Research cut shares of Relay Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group raised their price objective on shares of Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Canaccord Genuity Group initiated coverage on Relay Therapeutics in a research note on Thursday, July 16th. They set a “buy” rating and a $29.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.58.

Relay Therapeutics Stock Performance

Shares of RLAY stock opened at $19.77 on Monday. The stock’s 50-day moving average price is $17.71 and its 200-day moving average price is $13.53. Relay Therapeutics has a 12-month low of $3.03 and a 12-month high of $20.79. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -12.59 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. As a group, research analysts predict that Relay Therapeutics will post -1.57 EPS for the current fiscal year.

Insider Activity

In other news, insider Donald A. Bergstrom sold 93,456 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.94, for a total value of $1,583,144.64. Following the sale, the insider directly owned 418,557 shares in the company, valued at approximately $7,090,355.58. This trade represents a 18.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 48,199 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the sale, the chief executive officer owned 615,898 shares of the company’s stock, valued at approximately $12,059,282.84. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 427,356 shares of company stock valued at $7,461,240. Company insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL purchased a new stake in shares of Relay Therapeutics in the third quarter worth about $399,000. Sanctuary Advisors LLC acquired a new stake in shares of Relay Therapeutics during the 4th quarter worth approximately $1,203,000. Affinity Asset Advisors LLC purchased a new position in shares of Relay Therapeutics during the 1st quarter valued at approximately $3,980,000. Arrowstreet Capital Limited Partnership purchased a new stake in Relay Therapeutics during the first quarter worth $6,649,000. Finally, Dimensional Fund Advisors LP grew its position in Relay Therapeutics by 18.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,940,536 shares of the company’s stock valued at $29,248,000 after buying an additional 460,186 shares during the period. Hedge funds and other institutional investors 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.