Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $23.30 Consensus PT from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have received a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $23.30.

Several analysts have issued reports on RLAY shares. Wall Street Zen raised Relay Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. The Goldman Sachs Group raised their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. UBS Group set a $26.00 price objective on Relay Therapeutics in a report on Tuesday, May 19th. Finally, HC Wainwright raised their price objective on Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, May 26th.

Insider Activity

In other news, insider Donald A. Bergstrom sold 93,456 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.94, for a total value of $1,583,144.64. Following the completion of the transaction, the insider owned 418,557 shares in the company, valued at $7,090,355.58. This trade represents a 18.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Catinazzo sold 187,163 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.97, for a total value of $3,176,156.11. Following the completion of the transaction, the chief financial officer owned 177,461 shares of the company’s stock, valued at $3,011,513.17. The trade was a 51.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 321,068 shares of company stock valued at $5,292,189 in the last 90 days. 5.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commodore Capital LP lifted its position in Relay Therapeutics by 27.3% during the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after acquiring an additional 3,650,000 shares during the last quarter. Casdin Capital LLC lifted its position in Relay Therapeutics by 14.7% during the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after acquiring an additional 1,662,193 shares during the last quarter. Perceptive Advisors LLC lifted its position in Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after acquiring an additional 7,847,896 shares during the last quarter. Vanguard Group Inc. lifted its position in Relay Therapeutics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after acquiring an additional 295,701 shares during the last quarter. Finally, Bellevue Group AG lifted its position in Relay Therapeutics by 1.4% during the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock worth $43,564,000 after acquiring an additional 114,740 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

RLAY opened at $18.03 on Friday. The business’s 50-day moving average price is $14.40 and its two-hundred day moving average price is $11.04. Relay Therapeutics has a 1 year low of $3.03 and a 1 year high of $18.83. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -11.49 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $5.58 million. Sell-side analysts anticipate that Relay Therapeutics will post -1.55 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.