Relay Therapeutics (NASDAQ:RLAY) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Relay Therapeutics (NASDAQ:RLAY) in a research report report published on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $29.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Wall Street Zen upgraded Relay Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. UBS Group set a $26.00 price objective on Relay Therapeutics in a research report on Tuesday, May 19th. Citizens Jmp raised their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 20th. HC Wainwright raised their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company lifted their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $24.17.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $19.91 on Thursday. The business’s 50-day moving average is $15.95 and its two-hundred day moving average is $12.33. The company has a market capitalization of $3.81 billion, a P/E ratio of -12.68 and a beta of 1.67. Relay Therapeutics has a fifty-two week low of $3.03 and a fifty-two week high of $20.79.

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

Insiders Place Their Bets

In other news, insider Peter Rahmer sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the completion of the transaction, the insider directly owned 225,857 shares of the company’s stock, valued at $4,311,610.13. This represents a 18.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the sale, the chief executive officer directly owned 615,898 shares in the company, valued at $12,059,282.84. This represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 426,127 shares of company stock worth $7,426,087. Company insiders own 5.04% of the company’s stock.

Institutional Trading of Relay Therapeutics

Institutional investors have recently modified their holdings of the stock. KBC Group NV acquired a new position in shares of Relay Therapeutics during the 1st quarter worth about $34,000. Torren Management LLC purchased a new position in Relay Therapeutics in the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC boosted its holdings in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after buying an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Relay Therapeutics in the 4th quarter worth about $46,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Relay Therapeutics by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after buying an additional 1,757 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.