Relay Therapeutics (NASDAQ:RLAY) Price Target Raised to $21.00 at Barclays

Relay Therapeutics (NASDAQ:RLAY) had its target price hoisted by Barclays from $17.00 to $21.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

RLAY has been the topic of several other research reports. Wells Fargo & Company boosted their price objective on Relay Therapeutics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, March 17th. Guggenheim boosted their price objective on Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. Citizens Jmp boosted their price objective on Relay Therapeutics from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Tuesday, March 17th. Finally, HC Wainwright upped their target price on Relay Therapeutics from $14.00 to $19.00 and gave the company a “buy” rating in a report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $18.43.

Relay Therapeutics Trading Up 7.6%

NASDAQ RLAY opened at $14.51 on Wednesday. The stock’s 50-day moving average price is $9.80 and its two-hundred day moving average price is $8.07. The company has a market cap of $2.59 billion, a PE ratio of -8.96 and a beta of 1.57. Relay Therapeutics has a 1 year low of $1.82 and a 1 year high of $14.64.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.06. The company had revenue of $7.00 million for the quarter, compared to analyst estimates of $4.34 million. Research analysts forecast that Relay Therapeutics will post -2.55 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In related news, insider Donald A. Bergstrom sold 18,895 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $143,979.90. Following the completion of the sale, the insider owned 422,733 shares of the company’s stock, valued at approximately $3,221,225.46. The trade was a 4.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 13,820 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $105,308.40. Following the completion of the sale, the chief financial officer directly owned 250,996 shares of the company’s stock, valued at approximately $1,912,589.52. The trade was a 5.22% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 50,134 shares of company stock valued at $386,781. 4.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

Large investors have recently made changes to their positions in the company. Congress Asset Management Co. boosted its position in Relay Therapeutics by 160.9% during the third quarter. Congress Asset Management Co. now owns 408,842 shares of the company’s stock worth $2,134,000 after purchasing an additional 252,142 shares during the period. SG Americas Securities LLC boosted its position in Relay Therapeutics by 591.7% during the fourth quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock worth $1,869,000 after purchasing an additional 189,004 shares during the period. Commodore Capital LP boosted its position in Relay Therapeutics by 27.3% during the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after purchasing an additional 3,650,000 shares during the period. Bellevue Group AG boosted its position in Relay Therapeutics by 11.6% during the second quarter. Bellevue Group AG now owns 8,230,870 shares of the company’s stock worth $28,479,000 after purchasing an additional 853,578 shares during the period. Finally, HighVista Strategies LLC bought a new stake in Relay Therapeutics during the second quarter worth approximately $518,000. Institutional investors 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.