Relay Therapeutics (NASDAQ:RLAY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised Relay Therapeutics’ price target to $31 from $28 and maintained an “overweight” rating, implying 56.72% upside from the reported $19.78 share price.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and average price target of $25.83, although Zacks Research downgraded the stock to “strong sell.”
• Relay Therapeutics reported a quarterly loss of $0.41 per share, missing estimates by $0.02, while revenue of $0.35 million fell short of the $0.96 million consensus forecast.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) had its target price upped by analysts at JPMorgan Chase & Co. from $28.00 to $31.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 56.72% from the stock's current price.

RLAY has been the subject of several other reports. Citizens Jmp boosted their price objective on shares of Relay Therapeutics from $21.00 to $26.00 and gave the company a "market outperform" rating in a research report on Monday. Zacks Research downgraded Relay Therapeutics from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 22nd. The Goldman Sachs Group lifted their price target on Relay Therapeutics from $22.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Oppenheimer boosted their price target on Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Finally, UBS Group set a $26.00 price objective on Relay Therapeutics in a research report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $25.83.

Relay Therapeutics Price Performance

RLAY traded down $0.15 on Friday, hitting $19.78. 400,027 shares of the stock were exchanged, compared to its average volume of 3,202,073. Relay Therapeutics has a 12 month low of $3.31 and a 12 month high of $20.79. The business has a 50-day moving average of $18.11 and a two-hundred day moving average of $13.88. The firm has a market capitalization of $4.33 billion, a price-to-earnings 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) 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 analysts' expectations of $0.96 million. Equities research analysts expect that Relay Therapeutics will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 1,459 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total value of $27,151.99. Following the completion of the transaction, the chief financial officer directly owned 158,285 shares in the company, valued at approximately $2,945,683.85. This represents a 0.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Donald A. Bergstrom sold 2,237 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total value of $41,630.57. Following the completion of the transaction, the insider owned 407,660 shares of the company's stock, valued at $7,586,552.60. The trade was a 0.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 409,639 shares of company stock worth $7,233,399. Corporate insiders own 5.04% of the company's stock.

Hedge Funds Weigh In On Relay Therapeutics

Several large investors have recently bought and sold shares of RLAY. Sanctuary Advisors LLC boosted its stake in shares of Relay Therapeutics by 1.1% during the first quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company's stock valued at $1,431,000 after purchasing an additional 1,588 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Relay Therapeutics by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company's stock valued at $71,000 after buying an additional 1,757 shares during the last quarter. Abel Hall LLC raised its holdings in Relay Therapeutics by 16.2% in the 4th quarter. Abel Hall LLC now owns 12,984 shares of the company's stock valued at $110,000 after buying an additional 1,809 shares during the last quarter. Allworth Financial LP acquired a new stake in Relay Therapeutics during the 2nd quarter worth approximately $34,000. Finally, Cresset Asset Management LLC boosted its position in Relay Therapeutics by 5.0% during the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company's stock worth $203,000 after buying an additional 1,848 shares during the period. 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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