Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $23.73 Average Target Price from Brokerages

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have earned an average recommendation of “Buy” from the thirteen research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $24.1667.

RLAY has been the subject of a number of analyst reports. HC Wainwright raised their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Guggenheim upped their price objective on Relay Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a report on Tuesday, May 19th. Citizens Jmp raised their price target on Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 20th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 8,660 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $18.71, for a total transaction of $162,028.60. Following the transaction, the insider directly owned 409,897 shares of the company’s stock, valued at approximately $7,669,172.87. The trade was a 2.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjiv Patel sold 48,199 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total transaction of $943,736.42. Following the transaction, the chief executive officer owned 615,898 shares in the company, valued at $12,059,282.84. This represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 426,127 shares of company stock worth $7,426,087. 5.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Torren Management LLC purchased a new stake in shares of Relay Therapeutics in the 4th quarter worth approximately $30,000. KBC Group NV bought a new stake in shares of Relay Therapeutics in the first quarter worth approximately $34,000. Smartleaf Asset Management LLC grew its position in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after purchasing an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Relay Therapeutics in the fourth quarter worth $46,000. Finally, Captrust Financial Advisors bought a new stake in shares of Relay Therapeutics during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Trading Up 2.8%

Shares of RLAY stock opened at $19.91 on Wednesday. The stock has a market capitalization of $3.81 billion, a P/E ratio of -12.68 and a beta of 1.67. The firm’s 50 day moving average is $15.95 and its 200 day moving average is $12.33. Relay Therapeutics has a 12 month low of $3.03 and a 12 month high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. On average, equities analysts predict that Relay Therapeutics will post -1.57 EPS for the current year.

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.