Relay Therapeutics (NASDAQ:RLAY) Given New $22.00 Price Target at Guggenheim

Relay Therapeutics (NASDAQ:RLAY) had its price objective hoisted by research analysts at Guggenheim from $15.00 to $22.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 99.87% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. Wells Fargo & Company lifted their price objective on Relay Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, Oppenheimer upgraded Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.80.

Relay Therapeutics Stock Performance

Relay Therapeutics stock opened at $11.01 on Friday. The firm has a market cap of $1.97 billion, a PE ratio of -6.79 and a beta of 1.55. Relay Therapeutics has a twelve month low of $1.77 and a twelve month high of $11.43. The firm’s 50 day moving average price is $8.67 and its two-hundred day moving average price is $7.14.

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

Insider Activity at Relay Therapeutics

In other news, insider Peter Rahmer sold 11,684 shares of the firm’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 $89,032.08. Following the completion of the transaction, the insider directly owned 277,964 shares of the company’s stock, valued at $2,118,085.68. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjiv Patel sold 43,168 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total transaction of $337,573.76. Following the completion of the transaction, the chief executive officer owned 661,041 shares in the company, valued at $5,169,340.62. The trade was a 6.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 93,302 shares of company stock worth $724,355. Insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Torren Management LLC bought a new position in Relay Therapeutics during the fourth quarter valued at about $30,000. Smartleaf Asset Management LLC grew its holdings in shares of Relay Therapeutics by 288.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after purchasing an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Relay Therapeutics in the fourth quarter worth $46,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Relay Therapeutics by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after buying an additional 1,757 shares during the last quarter. Finally, Abel Hall LLC bought a new position in Relay Therapeutics during the 3rd quarter valued at about $58,000. Institutional investors own 96.98% of the company’s stock.

About Relay Therapeutics

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.