Guggenheim Issues Positive Forecast for Relay Therapeutics (NASDAQ:RLAY) Stock Price

Key Points

• Guggenheim raised its price target on Relay Therapeutics from $15 to $22 and kept a "buy" rating, implying roughly a 99.9% upside from the prior close.
• Relay beat quarterly expectations with EPS of ($0.32) vs. consensus ($0.38) and revenue of $7.0M (vs. $4.34M), and the stock recently traded near $11.01 with a market cap of about $1.97B.
• Insiders sold roughly 93,302 shares (~$724k) in the past three months, even as institutional ownership is very high at about 96.98%, led by large stakes from firms like Casdin and Commodore.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) had its target price boosted by equities research analysts at Guggenheim from $15.00 to $22.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price objective would suggest a potential upside of 99.87% from the stock's previous close.

A number of other research firms have also recently commented on RLAY. Wells Fargo & Company increased their target price on shares of Relay Therapeutics from $13.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, February 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Relay Therapeutics in a report on Friday, January 9th. Finally, Oppenheimer raised Relay Therapeutics from a "market perform" rating to an "outperform" rating and set a $14.00 price objective on the stock in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Relay Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $16.80.

Relay Therapeutics Stock Up 4.3%

Shares of Relay Therapeutics stock opened at $11.01 on Friday. The company has a 50-day simple moving average of $8.67 and a two-hundred day simple moving average of $7.14. Relay Therapeutics has a twelve month low of $1.77 and a twelve month high of $11.43. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -6.79 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued 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 analysts' expectations of $4.34 million. On average, sell-side analysts anticipate that Relay Therapeutics will post -2.55 earnings per share for the current fiscal year.

Insider Transactions at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 43,168 shares of the business's stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $7.82, for a total transaction of $337,573.76. Following the completion of the transaction, the chief executive officer owned 661,041 shares in the company, valued at $5,169,340.62. The trade was a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Rahmer sold 11,684 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total transaction of $89,032.08. Following the completion of the transaction, the insider owned 277,964 shares in the company, valued at $2,118,085.68. This represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 93,302 shares of company stock valued at $724,355 in the last three months. 4.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commodore Capital LP purchased a new stake in Relay Therapeutics during the second quarter valued at approximately $46,191,000. Spruce Street Capital LP purchased a new position in Relay Therapeutics during the 4th quarter valued at about $25,246,000. Perceptive Advisors LLC purchased a new position in Relay Therapeutics during the fourth quarter worth about $16,101,000. TCG Crossover Management LLC bought a new stake in Relay Therapeutics during the 3rd quarter valued at $9,450,000. Finally, Casdin Capital LLC boosted its position in shares of Relay Therapeutics by 14.7% during the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company's stock valued at $110,010,000 after purchasing an additional 1,662,193 shares in the last quarter. 96.98% of the stock is currently owned by 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.

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