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

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been given a consensus recommendation of “Buy” by the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $23.7273.

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Oppenheimer lifted their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Wells Fargo & Company upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th.

Insider Buying and Selling at Relay Therapeutics

In related 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 sale, 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 filing with the SEC, which is available at this hyperlink. Also, insider Peter Rahmer sold 50,000 shares of the business’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 directly owned 225,857 shares in the company, valued at $4,311,610.13. This trade represents a 18.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 426,127 shares of company stock worth $7,426,087. Corporate insiders own 5.04% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently bought and sold shares of RLAY. SG Americas Securities LLC lifted its position in 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 acquiring an additional 189,004 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Relay Therapeutics in the third quarter worth $399,000. Sanctuary Advisors LLC purchased a new position in shares of Relay Therapeutics in the fourth quarter worth $1,203,000. Mayport LLC bought a new position in shares of Relay Therapeutics during the third quarter valued at $259,000. Finally, Casdin Capital LLC lifted its holdings in shares of Relay Therapeutics by 14.7% during the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after purchasing an additional 1,662,193 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Up 1.9%

Shares of RLAY stock opened at $19.08 on Wednesday. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -12.15 and a beta of 1.67. The stock has a fifty day moving average of $15.54 and a 200 day moving average of $12.12. Relay Therapeutics has a 52 week low of $3.03 and a 52 week high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. Equities research analysts anticipate that Relay Therapeutics will post -1.57 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.