Relay Therapeutics (NASDAQ:RLAY) Price Target Raised to $26.00

Relay Therapeutics (NASDAQ:RLAY) had its price objective boosted by Citizens Jmp from $21.00 to $26.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities research analysts have also issued reports on RLAY. Canaccord Genuity Group assumed coverage on shares of Relay Therapeutics in a research report on Thursday, July 16th. They set a “buy” rating and a $29.00 target price for the company. JonesTrading upgraded shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. HC Wainwright raised their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Finally, Zacks Research cut Relay Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.58.

Relay Therapeutics Stock Up 0.4%

NASDAQ:RLAY opened at $20.07 on Monday. The business’s 50-day moving average price is $18.01 and its two-hundred day moving average price is $13.79. Relay Therapeutics has a twelve month low of $3.31 and a twelve month high of $20.79. The stock has a market cap of $4.40 billion, a P/E ratio of -12.78 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The firm had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. On average, equities research analysts expect that Relay Therapeutics will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were 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 of the company’s stock, valued at $4,311,610.13. The trade was a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas Catinazzo sold 187,163 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the sale, the chief financial officer owned 177,461 shares of the company’s stock, valued at approximately $3,011,513.17. The trade was a 51.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 409,639 shares of company stock worth $7,233,399 in the last 90 days. 5.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL bought a new stake in shares of Relay Therapeutics in the third quarter worth about $399,000. Sanctuary Advisors LLC bought a new position in shares of Relay Therapeutics during the fourth quarter valued at approximately $1,203,000. Affinity Asset Advisors LLC bought a new position in shares of Relay Therapeutics during the first quarter valued at approximately $3,980,000. Arrowstreet Capital Limited Partnership purchased a new stake in Relay Therapeutics in the first quarter worth $6,649,000. Finally, Casdin Capital LLC increased its position in Relay Therapeutics by 14.7% during the 4th 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 during the period. 96.98% of the stock is currently owned by institutional investors.

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.