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

Relay Therapeutics (NASDAQ:RLAY) had its price objective raised by investment analysts at Citizens Jmp from $21.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price points to a potential upside of 31.51% from the company’s current price.

A number of other equities research analysts have also issued reports on RLAY. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research report on Tuesday, May 19th. JPMorgan Chase & Co. assumed coverage on shares of Relay Therapeutics in a research note on Wednesday, July 8th. They set an “overweight” rating and a $28.00 price objective for the company. Citigroup reiterated a “market outperform” rating on shares of Relay Therapeutics in a report on Monday. Finally, HC Wainwright raised their target price 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. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.58.

Relay Therapeutics Price Performance

Shares of Relay Therapeutics stock opened at $19.77 on Monday. The stock has a market capitalization of $4.33 billion, a P/E ratio of -12.59 and a beta of 1.69. The business has a 50 day simple moving average of $17.71 and a two-hundred day simple moving average of $13.53. Relay Therapeutics has a 12 month low of $3.03 and a 12 month high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS 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 analysts’ expectations of $0.96 million. As a group, research analysts anticipate that Relay Therapeutics will post -1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Thomas Catinazzo sold 1,459 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were 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 in the company, valued at approximately $2,945,683.85. The trade was a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Donald A. Bergstrom sold 2,237 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total transaction of $41,630.57. Following the transaction, the insider directly owned 407,660 shares of the company’s stock, valued at approximately $7,586,552.60. This trade represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 427,356 shares of company stock worth $7,461,240 over the last ninety days. Company insiders own 5.04% of the company’s stock.

Institutional Trading of Relay Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in shares of Relay Therapeutics during the second quarter worth $62,000. KBC Group NV acquired a new stake in shares of Relay Therapeutics during the first quarter worth about $34,000. Torren Management LLC purchased a new position in shares of Relay Therapeutics in the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC increased its stake in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after buying an additional 3,287 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Relay Therapeutics during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.