Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.00.

RLAY has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. Wells Fargo & Company upgraded Relay Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $6.00 to $13.00 in a report on Friday, December 12th.

Relay Therapeutics Stock Performance

Shares of RLAY stock opened at $7.41 on Wednesday. The firm has a market cap of $1.28 billion, a P/E ratio of -4.23 and a beta of 1.55. The firm’s 50 day moving average price is $7.77 and its 200-day moving average price is $5.78. Relay Therapeutics has a one year low of $1.77 and a one year high of $9.04.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, November 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.04). As a group, research analysts predict that Relay Therapeutics will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 21,664 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $7.29, for a total value of $157,930.56. Following the completion of the transaction, the chief financial officer owned 313,631 shares in the company, valued at approximately $2,286,369.99. The trade was a 6.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donald A. Bergstrom sold 30,897 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total transaction of $225,239.13. Following the sale, the insider directly owned 521,823 shares in the company, valued at approximately $3,804,089.67. The trade was a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 198,331 shares of company stock worth $1,455,204. 4.32% of the stock is owned by company insiders.

Institutional Trading of Relay Therapeutics

Several hedge funds have recently modified their holdings of the stock. Commodore Capital LP purchased a new stake in shares of Relay Therapeutics in the 2nd quarter valued at approximately $46,191,000. TCG Crossover Management LLC purchased a new stake in shares of Relay Therapeutics during the 3rd quarter worth $9,450,000. Woodline Partners LP grew its stake 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 in the last quarter. Bellevue Group AG increased its holdings in Relay Therapeutics by 11.6% in the second quarter. Bellevue Group AG now owns 8,230,870 shares of the company’s stock valued at $28,479,000 after buying an additional 853,578 shares during the last quarter. Finally, Norges Bank purchased a new position in Relay Therapeutics in the second quarter valued at $2,892,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.