Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Average Recommendation of "Buy" by Analysts

Key Points

• Relay Therapeutics has an average analyst rating of "Buy" from 12 covering firms, with a consensus 1-year price target of about $23.73.
• Recent analyst updates have been bullish, including price target increases from HC Wainwright, Barclays, JPMorgan, UBS, and Citizens JMP, with several setting targets in the $26 to $28 range.
• The stock recently traded near $19.08 after rising 1.9%, while the company continues to post losses and recent quarterly results missed expectations on both earnings and revenue.

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) have been assigned an average rating of "Buy" from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $23.7273.

Several analysts have weighed in on RLAY shares. HC Wainwright raised their price target on Relay Therapeutics from $25.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Barclays boosted their price target on shares of Relay Therapeutics from $21.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. began coverage on shares of Relay Therapeutics in a report on Wednesday, July 8th. They issued an "overweight" rating and a $28.00 price target on the stock. UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Finally, Citizens Jmp lifted their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a "market outperform" rating in a report on Wednesday, May 20th.

Relay Therapeutics Stock Up 1.9%

Shares of RLAY opened at $19.08 on Wednesday. Relay Therapeutics has a twelve month low of $3.03 and a twelve month high of $20.79. The stock has a market cap of $3.66 billion, a PE ratio of -12.15 and a beta of 1.67. The business's 50-day moving average price is $15.54 and its 200-day moving average price is $12.12.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to analysts' expectations of $5.58 million. Analysts expect that Relay Therapeutics will post -1.57 earnings per share for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 48,199 shares of the company's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the completion of the transaction, the chief executive officer directly owned 615,898 shares in the company, valued at approximately $12,059,282.84. This represents a 7.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald A. Bergstrom sold 8,660 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $18.71, for a total value of $162,028.60. Following the transaction, the insider owned 409,897 shares in the company, valued at $7,669,172.87. This trade represents a 2.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 426,127 shares of company stock worth $7,426,087. Company insiders own 5.04% of the company's stock.

Institutional Trading of Relay Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV purchased a new position in shares of Relay Therapeutics during the first quarter worth approximately $34,000. Torren Management LLC purchased a new position in shares of Relay Therapeutics in the fourth quarter worth $30,000. Smartleaf Asset Management LLC raised its holdings in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company's stock valued at $37,000 after buying an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Relay Therapeutics in the fourth quarter valued at about $46,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Relay Therapeutics by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company's stock worth $71,000 after purchasing an additional 1,757 shares during the period. Hedge funds and other institutional investors own 96.98% of the company's stock.

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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