Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Average Rating of “Buy” by Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have earned a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $24.1667.

A number of equities research analysts recently weighed in on RLAY shares. Barclays raised their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Oppenheimer increased their price target on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Guggenheim raised their price target on shares of Relay Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Citizens Jmp lifted their price objective on shares of 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, JonesTrading upgraded shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $19.91 on Wednesday. The firm has a market cap of $3.81 billion, a P/E ratio of -12.68 and a beta of 1.67. The business has a fifty day moving average of $15.95 and a two-hundred day moving average of $12.35. Relay Therapeutics has a twelve month low of $3.03 and a twelve month high of $20.79.

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

Insider Activity

In other news, insider Peter Rahmer sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the transaction, the insider directly owned 225,857 shares of the company’s stock, valued at approximately $4,311,610.13. This represents a 18.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donald A. Bergstrom sold 93,456 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total value of $1,583,144.64. Following the transaction, the insider directly owned 418,557 shares in the company, valued at approximately $7,090,355.58. The trade was a 18.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 426,127 shares of company stock valued at $7,426,087 over the last three months. Company insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RLAY. AQR Capital Management LLC boosted its holdings in Relay Therapeutics by 11.9% in the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after acquiring an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Relay Therapeutics by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after purchasing an additional 5,238 shares during the last quarter. Millennium Management LLC boosted its stake in Relay Therapeutics by 14.6% in the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after purchasing an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Relay Therapeutics during the 1st quarter worth approximately $53,000. Finally, Woodline Partners LP grew its position in Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares during the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

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.