Relay Therapeutics (NASDAQ:RLAY) Stock Price Expected to Rise, Barclays Analyst Says

Relay Therapeutics (NASDAQ:RLAY) had its price objective upped by Barclays from $17.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 40.00% from the company’s current price.

RLAY has been the subject of several other research reports. Citizens Jmp raised their target price on Relay Therapeutics from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 17th. HC Wainwright lifted their price target on shares of Relay Therapeutics from $14.00 to $19.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. Oppenheimer reissued an “outperform” rating on shares of Relay Therapeutics in a report on Monday, March 16th. Finally, Guggenheim lifted their price target on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $18.43.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $15.00 on Wednesday. The company has a market capitalization of $2.68 billion, a PE ratio of -9.26 and a beta of 1.57. Relay Therapeutics has a one year low of $2.07 and a one year high of $15.00. The business has a 50 day simple moving average of $9.95 and a 200 day simple moving average of $8.11.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.06. The company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $4.34 million. Equities analysts anticipate that Relay Therapeutics will post -2.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $13.01, for a total value of $230,498.17. Following the transaction, the chief financial officer owned 213,867 shares of the company’s stock, valued at approximately $2,782,409.67. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Peter Rahmer sold 11,684 shares of the business’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 directly owned 277,964 shares in the company, valued at approximately $2,118,085.68. This represents a 4.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 69,651 shares of company stock valued at $644,279. 4.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in Relay Therapeutics in the fourth quarter worth $115,000. Seven Fleet Capital Management LP acquired a new position in Relay Therapeutics in the fourth quarter worth $618,000. Invesco Ltd. boosted its stake in Relay Therapeutics by 139.6% in the fourth quarter. Invesco Ltd. now owns 865,481 shares of the company’s stock worth $7,322,000 after purchasing an additional 504,291 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Relay Therapeutics in the fourth quarter worth $106,000. Finally, XTX Topco Ltd acquired a new position in Relay Therapeutics in the fourth quarter worth $1,332,000. Institutional investors and hedge funds 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.