Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives Consensus Rating of “Buy” from Analysts

Relay Therapeutics, Inc. (NASDAQ:RLAY) has been given an average recommendation of “Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $22.60.

RLAY has been the subject of several research reports. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a research report on Wednesday, May 20th. Barclays upped their price target on shares of Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. The Goldman Sachs Group upped their price target on shares of Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Guggenheim upped their price target on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th.

Relay Therapeutics Price Performance

RLAY stock opened at $13.53 on Tuesday. The company has a fifty day moving average price of $12.79 and a 200 day moving average price of $9.80. Relay Therapeutics has a 12 month low of $2.75 and a 12 month high of $17.32. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -8.62 and a beta of 1.74.

Relay Therapeutics (NASDAQ:RLAY) last released 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 company had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. As a group, analysts anticipate that Relay Therapeutics will post -1.59 earnings per share for the current year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value of $227,840.62. Following the transaction, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at approximately $2,509,989.08. The trade was a 8.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 40,449 shares of company stock valued at $532,889. Insiders own 5.04% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC increased its stake in Relay Therapeutics by 1.1% in the 1st quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock valued at $1,431,000 after buying an additional 1,588 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake 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 period. Abel Hall LLC increased its stake 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 period. Cresset Asset Management LLC increased its stake in Relay Therapeutics by 5.0% in the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock valued at $203,000 after buying an additional 1,848 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Relay Therapeutics by 8.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company’s stock valued at $145,000 after buying an additional 2,079 shares during the period. 96.98% of the stock is 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.