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

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.5714.

A number of research analysts recently weighed in on RLAY shares. Wells Fargo & Company upgraded shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $6.00 to $13.00 in a research note on Friday, December 12th. Oppenheimer raised Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 13,820 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $105,308.40. Following the completion of the sale, the chief financial officer owned 250,996 shares of the company’s stock, valued at approximately $1,912,589.52. The trade was a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald A. Bergstrom sold 18,895 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $143,979.90. Following the completion of the sale, the insider owned 422,733 shares of the company’s stock, valued at $3,221,225.46. The trade was a 4.28% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 93,302 shares of company stock worth $724,355. 4.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in shares of Relay Therapeutics by 130.4% during the 2nd quarter. Franklin Resources Inc. now owns 394,122 shares of the company’s stock valued at $1,364,000 after acquiring an additional 223,042 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Relay Therapeutics by 160.9% in the 3rd quarter. Congress Asset Management Co. now owns 408,842 shares of the company’s stock worth $2,134,000 after buying an additional 252,142 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Relay Therapeutics by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,229,666 shares of the company’s stock worth $11,176,000 after acquiring an additional 159,548 shares during the last quarter. Acadian Asset Management LLC grew its position in Relay Therapeutics by 16.5% in the second quarter. Acadian Asset Management LLC now owns 794,619 shares of the company’s stock worth $2,747,000 after acquiring an additional 112,591 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Relay Therapeutics by 73.6% in the second quarter. Bank of Montreal Can now owns 55,174 shares of the company’s stock valued at $191,000 after acquiring an additional 23,396 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY opened at $8.93 on Friday. Relay Therapeutics has a fifty-two week low of $1.77 and a fifty-two week high of $9.54. The company’s 50-day moving average is $8.14 and its 200 day moving average is $6.34. The company has a market capitalization of $1.55 billion, a P/E ratio of -5.10 and a beta of 1.59.

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.