JPMorgan Chase & Co. Issues Positive Forecast for Relay Therapeutics (NASDAQ:RLAY) Stock Price

Relay Therapeutics (NASDAQ:RLAY) had its target price upped by JPMorgan Chase & Co. from $28.00 to $31.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently commented on the stock. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Oppenheimer increased their price objective on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Citizens Jmp boosted their price objective on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Monday, August 10th. Finally, Citigroup restated a “market outperform” rating on shares of Relay Therapeutics in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Relay Therapeutics Stock Down 0.4%

RLAY opened at $19.86 on Friday. The stock’s fifty day moving average is $18.24 and its two-hundred day moving average is $13.92. The company has a market capitalization of $4.35 billion, a P/E ratio of -12.65 and a beta of 1.69. Relay Therapeutics has a 52 week low of $3.31 and a 52 week high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. Equities analysts anticipate that Relay Therapeutics will post -1.58 earnings per share for the current year.

Insider Activity

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 2,237 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total value of $41,630.57. Following the completion of the sale, the insider directly owned 407,660 shares in the company, valued at $7,586,552.60. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the transaction, the chief executive officer directly owned 615,898 shares in the company, valued at $12,059,282.84. This represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 409,639 shares of company stock valued at $7,233,399. Corporate insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLAY. Torren Management LLC acquired a new position in Relay Therapeutics during the 4th quarter valued at about $30,000. KBC Group NV acquired a new stake in Relay Therapeutics in the first quarter worth about $34,000. Allworth Financial LP acquired a new stake in Relay Therapeutics in the second quarter worth about $34,000. Smartleaf Asset Management LLC grew its stake in shares of Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after acquiring an additional 3,287 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Relay Therapeutics during the fourth quarter worth about $46,000. 96.98% of the stock is currently 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.