Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $18.00.

A number of research analysts have recently commented on RLAY shares. Guggenheim increased their target price on shares of Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Citizens Jmp increased their price objective on shares of Relay Therapeutics from $15.00 to $17.00 and gave the company a “market outperform” 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. HC Wainwright upped their price target on shares of Relay Therapeutics from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Finally, Wells Fargo & Company increased their price target on Relay Therapeutics from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, March 17th.

Insider Transactions at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 13,820 shares of Relay Therapeutics stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $105,308.40. Following the sale, the chief financial officer directly owned 250,996 shares of the company’s stock, valued at approximately $1,912,589.52. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjiv Patel sold 43,168 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $7.82, for a total value of $337,573.76. Following the sale, the chief executive officer owned 661,041 shares in the company, valued at approximately $5,169,340.62. This trade represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 93,302 shares of company stock worth $724,355. 4.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Commodore Capital LP grew its holdings in Relay Therapeutics by 27.3% during 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 last quarter. Casdin Capital LLC raised 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 valued at $110,010,000 after acquiring an additional 1,662,193 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Relay Therapeutics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after acquiring an additional 295,701 shares during the last quarter. Bellevue Group AG lifted its holdings in shares of Relay Therapeutics by 1.4% during the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock worth $43,564,000 after purchasing an additional 114,740 shares during the period. Finally, State Street Corp lifted its holdings in shares of Relay Therapeutics by 26.8% during the fourth quarter. State Street Corp now owns 6,426,111 shares of the company’s stock worth $54,365,000 after purchasing an additional 1,360,121 shares during the period. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

RLAY stock opened at $12.54 on Monday. The company’s 50-day moving average price is $9.47 and its two-hundred day moving average price is $7.90. The firm has a market cap of $2.24 billion, a P/E ratio of -7.74 and a beta of 1.57. Relay Therapeutics has a 12 month low of $1.77 and a 12 month high of $13.04.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly 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 firm had revenue of $7.00 million for the quarter, compared to the consensus estimate of $4.34 million. Equities analysts predict that Relay Therapeutics will post -2.55 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.