Relay Therapeutics (NASDAQ:RLAY) Research Coverage Started at JonesTrading

JonesTrading started coverage on shares of Relay Therapeutics (NASDAQ:RLAY) in a research report released on Tuesday, MarketBeat reports. The firm issued a hold rating and a $18.00 target price on the stock.

Several other research analysts have also weighed in on RLAY. Barclays increased their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Citizens Jmp upped their price target on Relay Therapeutics from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Tuesday, March 17th. Wells Fargo & Company increased their price target on Relay Therapeutics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, March 17th. Oppenheimer reissued an “outperform” rating on shares of Relay Therapeutics in a research report on Monday, March 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.38.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $16.11 on Tuesday. The company has a market capitalization of $2.88 billion, a PE ratio of -9.94 and a beta of 1.57. The firm’s 50-day moving average is $10.66 and its two-hundred day moving average is $8.49. Relay Therapeutics has a 12 month low of $2.53 and a 12 month high of $16.49.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.06. The firm had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $4.34 million. Sell-side analysts forecast that Relay Therapeutics will post -2.55 EPS for the current year.

Insider Activity at Relay Therapeutics

In related news, insider Peter Rahmer sold 11,684 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $89,032.08. Following the transaction, the insider owned 277,964 shares of the company’s stock, valued at approximately $2,118,085.68. This represents a 4.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 1,800 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $15.00, for a total value of $27,000.00. Following the transaction, the chief financial officer owned 213,867 shares of the company’s stock, valued at $3,208,005. This trade represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 69,651 shares of company stock worth $644,279. 4.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in Relay Therapeutics by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after buying an additional 38,812 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Relay Therapeutics by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after acquiring an additional 5,238 shares in the last quarter. Millennium Management LLC increased its position in shares of Relay Therapeutics by 14.6% during the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after acquiring an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Relay Therapeutics during the first quarter worth $53,000. Finally, Woodline Partners LP raised its stake in shares of Relay Therapeutics by 448.4% in the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after acquiring an additional 1,241,657 shares in the last quarter. 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.