Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Average Rating of “Buy” by Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been assigned an average recommendation of “Buy” from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $23.30.

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Barclays boosted their price target on shares of Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Oppenheimer boosted their price target on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value of $227,840.62. Following the completion of the sale, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at $2,509,989.08. The trade was a 8.32% 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. Insiders have sold 40,449 shares of company stock valued at $532,889 over the last ninety days. Insiders own 5.04% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of large investors have recently made changes to their positions in RLAY. AQR Capital Management LLC grew its position in shares of Relay Therapeutics by 11.9% in the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after buying an additional 38,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Relay Therapeutics by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after acquiring an additional 5,238 shares in the last quarter. Millennium Management LLC raised its position in shares of Relay Therapeutics by 14.6% in the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after acquiring an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Relay Therapeutics in the 1st quarter worth approximately $53,000. Finally, Woodline Partners LP grew its holdings in Relay Therapeutics by 448.4% in the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares during the period. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Stock Performance

RLAY stock opened at $14.05 on Tuesday. Relay Therapeutics has a 52-week low of $2.91 and a 52-week high of $17.32. The business has a 50-day simple moving average of $13.11 and a two-hundred day simple moving average of $9.99. The company has a market capitalization of $2.69 billion, a P/E ratio of -8.95 and a beta of 1.74.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. As a group, sell-side analysts forecast that Relay Therapeutics will post -1.59 earnings per share for the current fiscal year.

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.