Relay Therapeutics (NASDAQ:RLAY) Now Covered by Analysts at JonesTrading

JonesTrading initiated coverage on shares of Relay Therapeutics (NASDAQ:RLAY) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage issued a hold rating and a $18.00 price target on the stock.

A number of other brokerages have also issued reports on RLAY. Wells Fargo & Company lifted their target price on shares of Relay Therapeutics from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, March 17th. Oppenheimer reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research note on Monday, March 16th. Guggenheim lifted their price objective on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, March 13th. HC Wainwright lifted their price objective on shares of Relay Therapeutics from $14.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.38.

Relay Therapeutics Stock Down 3.3%

Shares of NASDAQ:RLAY opened at $14.75 on Tuesday. The firm has a fifty day moving average of $10.36 and a two-hundred day moving average of $8.38. The firm has a market capitalization of $2.64 billion, a P/E ratio of -9.10 and a beta of 1.57. Relay Therapeutics has a 12-month low of $2.46 and a 12-month high of $15.89.

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

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 1,800 shares of Relay Therapeutics stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $15.00, for a total value of $27,000.00. Following the completion of the sale, the chief financial officer owned 213,867 shares of the company’s stock, valued at approximately $3,208,005. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Peter Rahmer sold 11,684 shares of Relay Therapeutics stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $89,032.08. Following the completion of the transaction, the insider owned 277,964 shares in the company, valued at $2,118,085.68. This trade represents a 4.03% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 69,651 shares of company stock valued at $644,279. Insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Congress Asset Management Co. raised its holdings in 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 acquiring an additional 252,142 shares during the period. SG Americas Securities LLC raised its holdings in Relay Therapeutics by 591.7% in the 4th quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock worth $1,869,000 after acquiring an additional 189,004 shares during the period. Commodore Capital LP raised its holdings in Relay Therapeutics by 27.3% in the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after acquiring an additional 3,650,000 shares during the period. Mayport LLC bought a new position in Relay Therapeutics in the 3rd quarter worth $259,000. Finally, Tudor Investment Corp ET AL bought a new position in Relay Therapeutics in the 3rd quarter worth $399,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

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.