Relay Therapeutics (NASDAQ:RLAY) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Relay Therapeutics (NASDAQ:RLAY) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $28.00 target price on the stock.

A number of other analysts have also recently issued reports on RLAY. Wells Fargo & Company upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Citizens Jmp upped their target price on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $23.73.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $19.63 on Wednesday. The stock’s fifty day moving average is $15.00 and its two-hundred day moving average is $11.81. The stock has a market cap of $3.76 billion, a PE ratio of -12.50 and a beta of 1.67. Relay Therapeutics has a 1-year low of $3.03 and a 1-year high of $20.20.

Relay Therapeutics (NASDAQ:RLAY) 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 the consensus estimate of $5.58 million. On average, research analysts expect that Relay Therapeutics will post -1.55 earnings per share for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction that occurred on 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 owned 615,898 shares in the company, valued at $12,059,282.84. This represents a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald A. Bergstrom sold 93,456 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the completion of the sale, the insider directly owned 418,557 shares of the company’s stock, valued at $7,090,355.58. This trade represents a 18.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 426,127 shares of company stock valued at $7,426,087. Corporate insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RLAY. SG Americas Securities LLC boosted its holdings in shares of Relay Therapeutics by 591.7% in the 4th quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock valued at $1,869,000 after buying an additional 189,004 shares during the period. Tudor Investment Corp ET AL bought a new stake in Relay Therapeutics during the third quarter worth approximately $399,000. Sanctuary Advisors LLC acquired a new stake in Relay Therapeutics in the fourth quarter worth approximately $1,203,000. Commodore Capital LP lifted its holdings in Relay Therapeutics by 27.3% in the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock valued at $88,740,000 after acquiring an additional 3,650,000 shares during the last quarter. Finally, Mayport LLC bought a new stake in Relay Therapeutics during the third quarter worth approximately $259,000. 96.98% of the stock is owned by institutional investors and hedge funds.

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.