JonesTrading Initiates Coverage on Relay Therapeutics (NASDAQ:RLAY)

Key Points

• JonesTrading initiated coverage with a Hold rating and an $18.00 price target, implying roughly a 17.96% upside from the stock's current level.
• Analyst opinions are mixed but tilted positive overall — the consensus rating is Moderate Buy with a consensus price target of $18.38, while individual ratings range from Sell to Strong Buy.
• Relay recently beat estimates with ($0.32) EPS and $7.0M revenue for the quarter, the stock trades around $15.26 near its 52-week high, and insiders have been net sellers (69,651 shares sold in the last 90 days).

Equities research analysts at JonesTrading assumed coverage on shares of Relay Therapeutics (NASDAQ:RLAY - Get Free Report) in a research note issued on Tuesday,Benzinga reports. The brokerage set a "hold" rating and a $18.00 price target on the stock. JonesTrading's target price would indicate a potential upside of 17.96% from the stock's current price.

Other equities analysts have also issued reports about the company. Barclays upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Relay Therapeutics in a report on Wednesday, April 8th. Citizens Jmp increased their price objective on Relay Therapeutics from $15.00 to $17.00 and gave the stock a "market outperform" rating in a report on Tuesday, March 17th. Oppenheimer reissued an "outperform" rating on shares of Relay Therapeutics in a report on Monday, March 16th. Finally, Wells Fargo & Company increased their price objective on Relay Therapeutics from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.38.

Relay Therapeutics Trading Up 2.1%

NASDAQ:RLAY opened at $15.26 on Tuesday. The firm has a market capitalization of $2.73 billion, a PE ratio of -9.42 and a beta of 1.57. The stock has a 50 day moving average of $10.23 and a 200-day moving average of $8.32. Relay Therapeutics has a 52 week low of $2.30 and a 52 week high of $15.48.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its 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 company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $4.34 million. As a group, analysts predict that Relay Therapeutics will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 11,684 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $89,032.08. Following the completion of the transaction, the insider directly owned 277,964 shares of the company's stock, valued at approximately $2,118,085.68. This trade represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 17,717 shares of the stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $13.01, for a total value of $230,498.17. Following the transaction, the chief financial officer directly owned 213,867 shares of the company's stock, valued at approximately $2,782,409.67. The trade was a 7.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 69,651 shares of company stock valued at $644,279. 4.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently modified their holdings of RLAY. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 valued at $71,000 after purchasing an additional 1,757 shares in the last quarter. Abel Hall LLC lifted its holdings in shares of Relay Therapeutics by 16.2% in the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company's stock valued at $110,000 after purchasing an additional 1,809 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Relay Therapeutics by 5.0% in the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company's stock valued at $203,000 after purchasing an additional 1,848 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Relay Therapeutics by 8.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company's stock valued at $145,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Prelude Capital Management LLC raised its holdings in shares of Relay Therapeutics by 18.7% during the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company's stock worth $103,000 after acquiring an additional 3,100 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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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