Relay Therapeutics (NASDAQ:RLAY) Stock Rating Upgraded by Zacks Research

Relay Therapeutics (NASDAQ:RLAY) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other analysts have also issued reports about the company. UBS Group set a $26.00 price objective on Relay Therapeutics in a report on Tuesday, May 19th. Canaccord Genuity Group started coverage on Relay Therapeutics in a report on Thursday, July 16th. They set a “buy” rating and a $29.00 target price on the stock. The Goldman Sachs Group lifted their target price on Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Wall Street Zen downgraded Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $25.92.

Relay Therapeutics Stock Performance

RLAY opened at $19.44 on Thursday. The company has a 50-day moving average of $18.86 and a 200-day moving average of $14.35. The company has a market capitalization of $4.26 billion, a P/E ratio of -12.38 and a beta of 1.69. Relay Therapeutics has a 1-year low of $3.43 and a 1-year high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. As a group, sell-side analysts expect that Relay Therapeutics will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 187,163 shares of the business’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 completion of the sale, the chief financial officer owned 177,461 shares of the company’s stock, valued at $3,011,513.17. This represents a 51.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Rahmer sold 50,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the sale, the insider owned 225,857 shares in the company, valued at approximately $4,311,610.13. This trade represents a 18.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 409,639 shares of company stock valued at $7,233,399. Corporate insiders own 5.04% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Relay Therapeutics in the 2nd quarter worth approximately $286,042,000. Commodore Capital LP acquired a new position in Relay Therapeutics during the 2nd quarter valued at approximately $46,191,000. Perceptive Advisors LLC grew its stake in Relay Therapeutics by 412.3% during the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after buying an additional 7,847,896 shares during the last quarter. Spruce Street Capital LP bought a new position in Relay Therapeutics during the 4th quarter worth $25,246,000. Finally, Bank of America Corp DE acquired a new stake in Relay Therapeutics in the second quarter worth $50,425,000. 96.98% of the stock is 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.