Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $25.5833.

A number of equities analysts have weighed in on RLAY shares. Citizens Jmp boosted their target price on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Monday. Canaccord Genuity Group began 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. Citigroup reiterated a “market outperform” rating on shares of Relay Therapeutics in a report on Monday. Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group increased their price target on Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the sale, the chief executive officer owned 615,898 shares of the company’s stock, valued at $12,059,282.84. This trade represents a 7.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Donald A. Bergstrom sold 2,237 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total transaction of $41,630.57. Following the transaction, the insider directly owned 407,660 shares of the company’s stock, valued at $7,586,552.60. This represents a 0.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 409,639 shares of company stock worth $7,233,399. Company insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RLAY. Torren Management LLC bought a new position in Relay Therapeutics during the fourth quarter worth about $30,000. KBC Group NV acquired a new stake in shares of Relay Therapeutics in the first quarter valued at approximately $34,000. Allworth Financial LP bought a new position in shares of Relay Therapeutics during the 2nd quarter worth approximately $34,000. Smartleaf Asset Management LLC increased its holdings in shares of Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after acquiring an additional 3,287 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Relay Therapeutics in the 4th quarter valued at $46,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Trading Down 0.7%

Shares of Relay Therapeutics stock opened at $19.93 on Friday. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -12.69 and a beta of 1.69. The firm’s 50-day moving average price is $18.11 and its two-hundred day moving average price is $13.88. Relay Therapeutics has a 1-year low of $3.31 and a 1-year high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last posted 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 the consensus estimate of $0.96 million. As a group, equities research analysts predict that Relay Therapeutics will post -1.58 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.