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

Relay Therapeutics, Inc. (NASDAQ:RLAY) has earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $17.1667.

Several analysts recently issued reports on the stock. Citizens Jmp boosted their price objective on shares of Relay Therapeutics from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. Guggenheim lifted their price target on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Oppenheimer reissued an “outperform” rating on shares of Relay Therapeutics in a research note on Monday. Finally, Wells Fargo & Company upped their price objective on shares of Relay Therapeutics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday.

Relay Therapeutics Stock Down 3.2%

RLAY stock opened at $9.93 on Thursday. The business has a fifty day moving average of $8.84 and a two-hundred day moving average of $7.35. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -6.13 and a beta of 1.55. Relay Therapeutics has a 52-week low of $1.77 and a 52-week high of $11.49.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.06. The business had revenue of $7.00 million during the quarter, compared to analyst estimates of $4.34 million. As a group, sell-side analysts anticipate that Relay Therapeutics will post -2.55 EPS for the current year.

Insider Transactions at Relay Therapeutics

In other news, insider Peter Rahmer sold 11,684 shares of Relay Therapeutics 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 sale, the insider directly owned 277,964 shares of the company’s stock, valued at approximately $2,118,085.68. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjiv Patel sold 43,168 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total value of $337,573.76. Following the completion of the sale, the chief executive officer owned 661,041 shares in the company, valued at $5,169,340.62. This represents a 6.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 93,302 shares of company stock worth $724,355 in the last ninety days. 4.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in Relay Therapeutics by 130.4% during the 2nd quarter. Franklin Resources Inc. now owns 394,122 shares of the company’s stock worth $1,364,000 after buying an additional 223,042 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of Relay Therapeutics by 160.9% in the third quarter. Congress Asset Management Co. now owns 408,842 shares of the company’s stock worth $2,134,000 after acquiring an additional 252,142 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Relay Therapeutics by 5.2% in the second quarter. Geode Capital Management LLC now owns 3,229,666 shares of the company’s stock worth $11,176,000 after acquiring an additional 159,548 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Relay Therapeutics by 16.5% during the second quarter. Acadian Asset Management LLC now owns 794,619 shares of the company’s stock worth $2,747,000 after acquiring an additional 112,591 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Relay Therapeutics by 73.6% in the second quarter. Bank of Montreal Can now owns 55,174 shares of the company’s stock valued at $191,000 after acquiring an additional 23,396 shares in the last quarter. 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.