Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Of 14 analysts covering Relay Therapeutics, 10 rate it a buy and two a strong buy, with an average 12-month price target of $25.92.
• Insiders have been selling shares: Insiders sold approximately 6.4 million shares worth $123.7 million over the past three months, including a 6-million-share sale by major shareholder Pauling (Cayman) Ltd. SVF.
• Quarterly results fell short of expectations: Relay reported a quarterly loss of $0.41 per share versus the $0.39 consensus estimate and revenue of $0.35 million versus expectations of $0.96 million; shares opened at $18.51, near their recent trading range.

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fourteen analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $25.9167.

Several research firms have issued reports on RLAY. Barclays boosted their target price on Relay Therapeutics from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. JonesTrading raised Relay Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Raymond James Financial reiterated a "strong-buy" rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Citizens Jmp boosted their target price on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a "market outperform" rating in a research report on Monday, August 10th. Finally, Wall Street Zen cut shares of Relay Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 4,508 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $20.03, for a total value of $90,295.24. Following the completion of the transaction, the insider directly owned 223,657 shares of the company's stock, valued at approximately $4,479,849.71. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $19.40, for a total transaction of $116,400,000.00. Following the completion of the transaction, the insider directly owned 21,904,963 shares of the company's stock, valued at approximately $424,956,282.20. This trade represents a 21.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,414,147 shares of company stock valued at $123,723,695. 5.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. KBC Group NV purchased a new position in Relay Therapeutics in the 1st quarter valued at approximately $34,000. Allworth Financial LP purchased a new stake in Relay Therapeutics during the second quarter worth $34,000. Smartleaf Asset Management LLC boosted its position in 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 purchasing an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Relay Therapeutics in the fourth quarter valued at $46,000. Finally, Captrust Financial Advisors acquired a new stake in Relay Therapeutics in the second quarter valued at $49,000. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Stock Up 0.1%

Shares of NASDAQ:RLAY opened at $18.51 on Thursday. The company has a market cap of $4.06 billion, a price-to-earnings ratio of -11.79 and a beta of 1.69. The firm's 50-day simple moving average is $19.32 and its 200-day simple moving average is $14.99. Relay Therapeutics has a fifty-two week low of $3.58 and a fifty-two week high of $21.27.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million for the quarter, compared to analysts' expectations of $0.96 million. On average, research analysts forecast that Relay Therapeutics will post -1.61 EPS for the current year.

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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