Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $23.73 Consensus PT from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have earned an average recommendation of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $24.9167.

Several analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. began coverage on Relay Therapeutics in a report on Wednesday, July 8th. They set an “overweight” rating and a $28.00 target price on the stock. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. HC Wainwright increased their price target on Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, UBS Group set a $26.00 price target on Relay Therapeutics in a report on Tuesday, May 19th.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $19.30 on Wednesday. The firm has a market capitalization of $3.70 billion, a PE ratio of -12.29 and a beta of 1.67. The company’s 50-day moving average is $16.21 and its 200-day moving average is $12.51. Relay Therapeutics has a fifty-two week low of $3.03 and a fifty-two week high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results 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 company had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. As a group, analysts expect that Relay Therapeutics will post -1.57 EPS for the current year.

Insider Transactions at Relay Therapeutics

In related news, insider Peter Rahmer sold 50,000 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the completion of the sale, the insider directly owned 225,857 shares of the company’s stock, valued at approximately $4,311,610.13. This trade represents a 18.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 48,199 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value 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 $12,059,282.84. This trade represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 426,127 shares of company stock worth $7,426,087. Insiders own 5.04% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RLAY. KBC Group NV bought a new stake in shares of Relay Therapeutics in the first quarter valued at about $34,000. Torren Management LLC bought a new position in Relay Therapeutics during the fourth quarter worth about $30,000. Smartleaf Asset Management LLC increased its position in Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after acquiring an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Relay Therapeutics in the 4th quarter worth about $46,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Relay Therapeutics by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after purchasing an additional 1,757 shares in the last quarter. 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.