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

Relay Therapeutics, Inc. (NASDAQ:RLAY) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $25.9167.

A number of research analysts have issued reports on RLAY shares. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. 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. The Goldman Sachs Group lifted their price target on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Wall Street Zen lowered shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Relay Therapeutics in a research note on Monday, August 10th.

Insider Buying and Selling

In related news, major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $19.40, for a total transaction of $116,400,000.00. Following the sale, the insider directly owned 21,904,963 shares in the company, valued at $424,956,282.20. This represents a 21.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value of $943,736.42. Following the completion of the transaction, the chief executive officer owned 615,898 shares of the company’s stock, valued at approximately $12,059,282.84. The trade was a 7.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,414,147 shares of company stock valued at $123,723,695 in the last ninety days. 5.04% of the stock is owned by corporate insiders.

Institutional Trading of Relay Therapeutics

Large investors have recently made changes to their positions in the business. Alphabet Inc. bought a new stake in Relay Therapeutics during the 2nd quarter worth about $26,382,000. California State Teachers Retirement System increased its position in Relay Therapeutics by 47.9% in the 1st quarter. California State Teachers Retirement System now owns 174,099 shares of the company’s stock valued at $1,732,000 after acquiring an additional 56,422 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in shares of Relay Therapeutics in the second quarter worth about $1,323,000. Sanctuary Advisors LLC bought a new position in shares of Relay Therapeutics in the second quarter worth about $1,995,000. Finally, Bank of America Corp DE lifted its position in shares of Relay Therapeutics by 86.1% during the first quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock worth $19,280,000 after purchasing an additional 896,746 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

Relay Therapeutics stock opened at $19.04 on Thursday. The company has a market capitalization of $4.17 billion, a PE ratio of -12.13 and a beta of 1.69. Relay Therapeutics has a one year low of $3.86 and a one year high of $21.27. The business has a 50 day simple moving average of $19.34 and a 200 day simple moving average of $15.20.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. Equities analysts anticipate that Relay Therapeutics will post -1.61 earnings per share for the current fiscal 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.