Relay Therapeutics (NASDAQ:RLAY) Sets New 52-Week High Following Analyst Upgrade

Key Points

• Relay Therapeutics shares hit a new 52-week high after JPMorgan raised its price target from $28 to $31 and maintained an overweight rating. The stock reached $20.79 and closed trading at $20.67, up 4.1%.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $25.83. However, ratings range from Strong Buy and Buy to Sell.
• Relay reported a quarterly EPS loss of $0.41, slightly worse than the expected $0.39 loss, while revenue of $0.35 million fell short of the $0.96 million consensus estimate. Insiders sold approximately $7.2 million of stock over the past 90 days, while institutional investors own 96.98% of shares.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report)'s share price reached a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $28.00 to $31.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Relay Therapeutics traded as high as $20.79 and last traded at $20.67, with a volume of 1832381 shares. The stock had previously closed at $19.86.

RLAY has been the topic of a number of other research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Relay Therapeutics in a research report on Monday, July 6th. UBS Group set a $26.00 target price on Relay Therapeutics in a research report on Tuesday, May 19th. Guggenheim reissued a "buy" rating on shares of Relay Therapeutics in a report on Friday, August 7th. Canaccord Genuity Group initiated coverage on Relay Therapeutics in a research note on Thursday, July 16th. They set a "buy" rating and a $29.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.83.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 2,237 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $41,630.57. Following the sale, the insider directly owned 407,660 shares in the company, valued at $7,586,552.60. This represents a 0.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Peter Rahmer sold 50,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total value of $954,500.00. Following the completion of the sale, the insider directly owned 225,857 shares in the company, valued at $4,311,610.13. This represents a 18.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 409,639 shares of company stock worth $7,233,399 over the last ninety days. Company insiders own 5.04% of the company's stock.

Institutional Trading of Relay Therapeutics

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its position 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 buying an additional 38,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Relay Therapeutics by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company's stock worth $221,000 after acquiring an additional 5,238 shares during the period. Millennium Management LLC raised its holdings in Relay Therapeutics by 14.6% during the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company's stock worth $7,710,000 after purchasing an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Relay Therapeutics during the first quarter worth about $53,000. Finally, Woodline Partners LP increased its position in Relay Therapeutics by 448.4% during 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. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Trading Up 4.1%

The firm has a market capitalization of $4.53 billion, a PE ratio of -13.17 and a beta of 1.69. The business has a 50 day moving average price of $18.24 and a 200-day moving average price of $13.96.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. On average, equities research analysts forecast that Relay Therapeutics, Inc. will post -1.58 earnings per share for the current year.

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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