Citizens Jmp Raises Relay Therapeutics (NASDAQ:RLAY) Price Target to $19.00

Key Points

• Citizens Jmp raised its price target on Relay Therapeutics from $17.00 to $19.00 and gave a "market outperform" rating, joining other firms (Wells Fargo $21, Goldman Sachs $22) and contributing to an average analyst price target of about $19.89, implying roughly a 40% upside.
• Despite the analyst upgrades, shares fell about 9.7% to $13.50 on Tuesday; the company has a market cap of $2.41 billion, a negative P/E (-8.40), and a 52‑week range of $2.67 to $17.32.
• Relay beat the most recent quarterly estimates (EPS of -$0.32 vs. -$0.38 and revenue $7.0M vs. $4.34M) but remains unprofitable, while insiders have sold shares recently (CFO sold 1,800 shares; 25,252 shares sold in the last 90 days) and institutional investors own about 96.98% of the stock.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) had its price target hoisted by analysts at Citizens Jmp from $17.00 to $19.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's target price suggests a potential upside of 40.73% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Relay Therapeutics in a research note on Tuesday. HC Wainwright raised their price objective on Relay Therapeutics from $14.00 to $19.00 and gave the company a "buy" rating in a research note on Monday, March 23rd. Oppenheimer raised their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, JonesTrading assumed coverage on Relay Therapeutics in a research note on Tuesday, April 14th. They issued a "hold" rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $19.89.

Relay Therapeutics Trading Down 9.7%

Relay Therapeutics stock traded down $1.45 during trading hours on Tuesday, reaching $13.50. 1,457,986 shares of the stock were exchanged, compared to its average volume of 2,690,545. The company has a market cap of $2.41 billion, a P/E ratio of -8.40 and a beta of 1.57. Relay Therapeutics has a twelve month low of $2.67 and a twelve month high of $17.32. The stock has a 50 day moving average of $11.64 and a two-hundred day moving average of $9.03.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) earnings per share (EPS) 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 analyst estimates of $4.34 million. On average, analysts expect that Relay Therapeutics will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 1,800 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $15.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer owned 213,867 shares of the company's stock, valued at $3,208,005. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 25,252 shares of company stock worth $305,959. Company insiders own 4.32% of the company's stock.

Institutional Trading of Relay Therapeutics

Hedge funds have recently made changes to their positions in the company. Torren Management LLC acquired a new stake in shares of Relay Therapeutics during the fourth quarter valued at about $30,000. Smartleaf Asset Management LLC boosted 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 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 approximately $46,000. Mirae Asset Global Investments Co. Ltd. lifted 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 acquiring an additional 1,757 shares during the period. Finally, Abel Hall LLC acquired a new position in shares of Relay Therapeutics in the third quarter worth approximately $58,000. 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.

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