Relay Therapeutics (NASDAQ:RLAY) Given New $19.00 Price Target at HC Wainwright

Relay Therapeutics (NASDAQ:RLAY) had its price target increased by HC Wainwright from $14.00 to $19.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on RLAY. Guggenheim increased their price target on Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Oppenheimer reissued an “outperform” rating on shares of Relay Therapeutics in a research note on Monday, March 16th. Wells Fargo & Company upped their target price on Relay Therapeutics from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, March 17th. 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 note on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $18.00.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $9.82 on Monday. The stock’s 50 day moving average is $8.95 and its 200 day moving average is $7.50. Relay Therapeutics has a one year low of $1.77 and a one year high of $11.49. The firm has a market cap of $1.76 billion, a P/E ratio of -6.06 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06. The firm had revenue of $7.00 million during 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.

Insider Transactions at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 13,820 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $105,308.40. Following the sale, the chief financial officer owned 250,996 shares in the company, valued at $1,912,589.52. This represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Peter Rahmer sold 11,684 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total transaction 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. The trade was a 4.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 93,302 shares of company stock worth $724,355. 4.32% of the stock is currently owned by insiders.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Commodore Capital LP purchased a new position in shares of Relay Therapeutics during the second quarter valued at approximately $46,191,000. Spruce Street Capital LP bought a new position in Relay Therapeutics during the 4th quarter valued at $25,246,000. Perceptive Advisors LLC bought a new position in Relay Therapeutics during the 4th quarter valued at $16,101,000. TCG Crossover Management LLC purchased a new position in Relay Therapeutics during the 3rd quarter worth $9,450,000. Finally, Casdin Capital LLC boosted its holdings in Relay Therapeutics by 14.7% during the 4th 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 hedge funds and other institutional investors.

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.