Guggenheim Boosts Relay Therapeutics (NASDAQ:RLAY) Price Target to $22.00

Relay Therapeutics (NASDAQ:RLAY) had its price target raised by research analysts at Guggenheim from $15.00 to $22.00 in a report released on Friday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 112.36% from the stock’s current price.

Other research analysts have also issued reports about the company. Wells Fargo & Company boosted their price target on Relay Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. 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 research report on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.80.

Relay Therapeutics Stock Down 1.8%

Shares of RLAY stock opened at $10.36 on Friday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -6.40 and a beta of 1.55. Relay Therapeutics has a 52-week low of $1.77 and a 52-week high of $11.49. The company’s 50 day moving average is $8.71 and its 200 day moving average is $7.21.

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

Insider Activity

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 13,820 shares of Relay Therapeutics stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $105,308.40. Following the transaction, the chief financial officer directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald A. Bergstrom sold 18,895 shares of the company’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 $143,979.90. Following the transaction, the insider directly owned 422,733 shares in the company, valued at approximately $3,221,225.46. The trade was a 4.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 93,302 shares of company stock valued at $724,355 over the last three months. Company insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RLAY. Commodore Capital LP acquired a new position in Relay Therapeutics during the 2nd quarter valued at about $46,191,000. Spruce Street Capital LP acquired a new stake in Relay Therapeutics in the fourth quarter worth about $25,246,000. Perceptive Advisors LLC acquired a new stake in Relay Therapeutics in the fourth quarter worth about $16,101,000. TCG Crossover Management LLC purchased a new stake in shares of Relay Therapeutics during the third quarter worth about $9,450,000. Finally, Casdin Capital LLC grew its stake in shares of Relay Therapeutics by 14.7% during the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after acquiring an additional 1,662,193 shares during the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

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.