Analysts Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Price Target at $25.92

Relay Therapeutics, Inc. (NASDAQ:RLAY) has been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $25.9167.

Several equities research analysts have weighed in on RLAY shares. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group raised 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, July 21st. Citizens Jmp lifted their target price on Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a report on Monday, August 10th. Citigroup reissued a “market outperform” rating on shares of Relay Therapeutics in a research report on Monday, August 10th. Finally, Wall Street Zen lowered Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total transaction of $954,500.00. Following the transaction, the insider owned 225,857 shares in the company, valued at $4,311,610.13. The trade was a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas Catinazzo sold 187,163 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the completion of the sale, the chief financial officer directly owned 177,461 shares in the company, valued at approximately $3,011,513.17. This represents a 51.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,414,147 shares of company stock valued at $123,723,695 over the last three months. Corporate insiders own 5.04% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in shares of Relay Therapeutics in the second quarter worth approximately $34,000. Meeder Asset Management Inc. bought a new stake in shares of Relay Therapeutics during the 2nd quarter worth approximately $62,000. KBC Group NV purchased a new position in Relay Therapeutics during the 1st quarter valued at $34,000. Smartleaf Asset Management LLC boosted its holdings in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after acquiring an additional 3,287 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Relay Therapeutics in the 4th quarter valued at $46,000. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Stock Performance

RLAY stock opened at $19.04 on Thursday. The firm has a fifty day moving average price of $19.36 and a 200 day moving average price of $15.08. Relay Therapeutics has a fifty-two week low of $3.86 and a fifty-two week high of $21.27. The firm has a market cap of $4.17 billion, a PE ratio of -12.13 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. On average, equities analysts predict that Relay Therapeutics will post -1.61 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.