Relay Therapeutics (NASDAQ:RLAY) Upgraded at Wall Street Zen

Relay Therapeutics (NASDAQ:RLAY) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Citigroup reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. HC Wainwright lifted their target price 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. Guggenheim lifted their target price on shares of Relay Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group lifted their target price on shares of Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $23.30.

Relay Therapeutics Stock Down 7.0%

Shares of RLAY opened at $13.52 on Friday. Relay Therapeutics has a 52-week low of $2.98 and a 52-week high of $17.47. The firm’s fifty day moving average is $13.60 and its two-hundred day moving average is $10.28. The stock has a market cap of $2.59 billion, a PE ratio of -8.61 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (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. As a group, research analysts anticipate that Relay Therapeutics will post -1.6 earnings per share for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.86, for a total transaction of $227,840.62. Following the transaction, the chief financial officer 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 legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 40,449 shares of company stock worth $532,889. Insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

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

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.