Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $25.17 Consensus Target Price from Brokerages

Relay Therapeutics, Inc. (NASDAQ:RLAY) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $25.8333.

RLAY has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday. Canaccord Genuity Group began coverage on shares of Relay Therapeutics in a research report on Thursday, July 16th. They set a “buy” rating and a $29.00 price target for the company. JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. HC Wainwright boosted their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group upped their price objective on shares of Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st.

Insider Buying and Selling

In other news, CFO Thomas Catinazzo sold 1,459 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total value of $27,151.99. Following the sale, the chief financial officer directly owned 158,285 shares of the company’s stock, valued at $2,945,683.85. The trade was a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was 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 in the company, valued at $12,059,282.84. The trade was a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 409,639 shares of company stock valued at $7,233,399. 5.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RLAY. BlackRock Inc. bought a new position in Relay Therapeutics in the 2nd quarter worth about $286,042,000. Commodore Capital LP bought a new stake in Relay Therapeutics during the 2nd quarter valued at about $46,191,000. Casdin Capital LLC increased its stake in Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after purchasing an additional 1,662,193 shares in the last quarter. Perceptive Advisors LLC raised its holdings in Relay Therapeutics by 412.3% in the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after buying an additional 7,847,896 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Relay Therapeutics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after buying an additional 295,701 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Stock Down 0.4%

RLAY opened at $19.86 on Friday. Relay Therapeutics has a 52 week low of $3.31 and a 52 week high of $20.79. The stock has a market cap of $4.35 billion, a PE ratio of -12.65 and a beta of 1.69. The business has a 50 day moving average of $18.24 and a 200-day moving average of $13.92.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. Equities analysts anticipate that Relay Therapeutics will post -1.58 EPS for the current year.

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.