Relay Therapeutics (NASDAQ:RLAY) Given New $26.00 Price Target at Raymond James Financial

Relay Therapeutics (NASDAQ:RLAY) had its price objective lifted by Raymond James Financial from $23.00 to $26.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James Financial’s price target indicates a potential upside of 113.38% from the company’s previous close.

RLAY has been the topic of a number of other reports. Barclays boosted their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Wall Street Zen lowered shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. HC Wainwright increased their price objective on Relay Therapeutics from $19.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company increased their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.80.

Relay Therapeutics Stock Up 0.7%

NASDAQ:RLAY traded up $0.09 on Tuesday, reaching $12.19. 15,017,578 shares of the company’s stock were exchanged, compared to its average volume of 2,899,922. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -7.74 and a beta of 1.74. The business has a fifty day moving average of $12.52 and a 200-day moving average of $9.59. Relay Therapeutics has a 52-week low of $2.75 and a 52-week high of $17.32.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. As a group, equities analysts anticipate that Relay Therapeutics will post -1.6 earnings per share for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 17,717 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total value of $227,840.62. Following the completion of the sale, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at approximately $2,509,989.08. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 40,449 shares of company stock valued at $532,889 over the last three months. 5.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

Several large investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Relay Therapeutics by 11.9% during the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after purchasing an additional 38,812 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Relay Therapeutics by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after purchasing an additional 5,238 shares during the period. Millennium Management LLC lifted its holdings 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 purchasing an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Relay Therapeutics during the first quarter worth $53,000. Finally, Woodline Partners LP lifted its holdings in shares of Relay Therapeutics by 448.4% during the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

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.