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

Key Points

• Relay Therapeutics received a “Moderate Buy” consensus rating from 14 analysts: 10 rated it a buy, two a strong buy, and two a sell. The average 12-month price target is $25.17, above the reported share price of $19.77.
• Recent analyst actions were broadly positive, including price-target increases from Wells Fargo and Oppenheimer, while Raymond James maintained a strong-buy rating and UBS set a $26 target.
• The company recently missed quarterly expectations, reporting an adjusted loss of $0.41 per share versus the $0.39 consensus estimate and revenue of $0.35 million versus $0.96 million expected. Insiders have sold 427,356 shares worth about $7.46 million over the past 90 days.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $25.1667.

Several research firms recently commented on RLAY. Wells Fargo & Company raised their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Raymond James Financial reissued a "strong-buy" rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Oppenheimer upped their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th.

Relay Therapeutics Stock Up 0.1%

Shares of Relay Therapeutics stock opened at $19.77 on Friday. The stock's fifty day moving average is $17.71 and its two-hundred day moving average is $13.48. Relay Therapeutics has a 52 week low of $3.03 and a 52 week high of $20.79. The company has a market capitalization of $3.79 billion, a PE ratio of -12.59 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The firm had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. As a group, research analysts anticipate that Relay Therapeutics will post -1.57 earnings per share for the current year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the sale, the chief executive officer directly owned 615,898 shares of the company's stock, valued at $12,059,282.84. The trade was a 7.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter Rahmer sold 50,000 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total value of $954,500.00. Following the completion of the sale, the insider owned 225,857 shares of the company's stock, valued at $4,311,610.13. This represents a 18.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 427,356 shares of company stock valued at $7,461,240. Company insiders own 5.04% of the company's stock.

Institutional Trading of Relay Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in Relay Therapeutics by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company's stock worth $956,000 after acquiring an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Relay Therapeutics by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company's stock valued at $221,000 after purchasing an additional 5,238 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Relay Therapeutics by 14.6% in the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company's stock valued at $7,710,000 after purchasing an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Relay Therapeutics in the 1st quarter worth approximately $53,000. Finally, Woodline Partners LP lifted its position in shares of Relay Therapeutics by 448.4% in the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company's stock worth $3,979,000 after purchasing an additional 1,241,657 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

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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