Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Average Recommendation of “Buy” by Brokerages

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have received an average recommendation of “Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.30.

RLAY has been the subject of several recent analyst reports. Wall Street Zen raised Relay Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Citigroup reissued an “outperform” rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Finally, The Goldman Sachs Group raised their target price on Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 17,717 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62. Following the completion of the transaction, the chief financial officer directly owned 195,178 shares in the company, valued at $2,509,989.08. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 40,449 shares of company stock worth $532,889 in the last ninety days. Company insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Torren Management LLC purchased a new position in shares of Relay Therapeutics during the fourth quarter worth $30,000. KBC Group NV purchased a new position in shares of Relay Therapeutics during the first quarter worth $34,000. Smartleaf Asset Management LLC boosted its position in shares of Relay Therapeutics by 288.6% during the fourth 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 period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Relay Therapeutics during the fourth quarter worth $46,000. Finally, Captrust Financial Advisors purchased a new position in shares of Relay Therapeutics during the second quarter worth $49,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Price Performance

RLAY stock opened at $15.88 on Friday. The business has a fifty day moving average of $14.25 and a two-hundred day moving average of $10.81. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -10.11 and a beta of 1.75. Relay Therapeutics has a 52-week low of $3.03 and a 52-week high of $17.47.

Relay Therapeutics (NASDAQ:RLAY) last posted 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 during the quarter, compared to the consensus estimate of $5.58 million. As a group, sell-side analysts anticipate that Relay Therapeutics will post -1.55 EPS 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.