Relay Therapeutics (NASDAQ:RLAY) Given New $17.00 Price Target at Citizens Jmp

Relay Therapeutics (NASDAQ:RLAY) had its price objective raised by Citizens Jmp from $15.00 to $17.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company lifted their target price on Relay Therapeutics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. Oppenheimer reiterated an “outperform” rating on shares of Relay Therapeutics in a report on Monday. Finally, Guggenheim boosted their target price on Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.17.

Relay Therapeutics Stock Up 1.3%

NASDAQ:RLAY opened at $10.26 on Tuesday. The company’s 50 day moving average price is $8.80 and its 200-day moving average price is $7.33. Relay Therapeutics has a 52 week low of $1.77 and a 52 week high of $11.49. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -6.33 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.06. The firm had revenue of $7.00 million for the quarter, compared to the consensus estimate of $4.34 million. As a group, sell-side analysts anticipate that Relay Therapeutics will post -2.55 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 43,168 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total transaction of $337,573.76. Following the completion of the sale, the chief executive officer directly owned 661,041 shares in the company, valued at approximately $5,169,340.62. The trade was a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Rahmer sold 11,684 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $89,032.08. Following the completion of the transaction, the insider owned 277,964 shares in the company, valued at approximately $2,118,085.68. This trade represents a 4.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 93,302 shares of company stock worth $724,355. Company insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of large investors have recently made changes to their positions in RLAY. Commodore Capital LP bought a new position in Relay Therapeutics in the second quarter worth approximately $46,191,000. Spruce Street Capital LP bought a new stake in shares of Relay Therapeutics during the 4th quarter valued at $25,246,000. Perceptive Advisors LLC purchased a new position in Relay Therapeutics during the fourth quarter valued at $16,101,000. TCG Crossover Management LLC purchased a new position in Relay Therapeutics during the third quarter valued at $9,450,000. Finally, Casdin Capital LLC increased its position in Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after buying an additional 1,662,193 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

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.