Analysts Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Target Price at $17.00

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $17.00.

Several research analysts have commented on RLAY shares. Wells Fargo & Company upgraded Relay Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $6.00 to $13.00 in a research note on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a report on Tuesday, October 14th.

Relay Therapeutics Trading Down 3.3%

Relay Therapeutics stock opened at $8.18 on Friday. The firm has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $5.37. Relay Therapeutics has a 1-year low of $1.77 and a 1-year high of $9.04. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -4.67 and a beta of 1.50.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). On average, equities research analysts forecast that Relay Therapeutics will post -2.55 EPS for the current year.

Insider Activity

In related news, CFO Thomas Catinazzo sold 21,664 shares of the stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total value of $157,930.56. Following the sale, the chief financial officer owned 313,631 shares in the company, valued at approximately $2,286,369.99. This trade represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 62,073 shares of Relay Therapeutics stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $7.00, for a total value of $434,511.00. Following the sale, the chief executive officer directly owned 703,215 shares of the company’s stock, valued at $4,922,505. This represents a 8.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 155,163 shares of company stock valued at $1,117,630. 4.87% of the stock is owned by company insiders.

Institutional Trading of Relay Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Murchinson Ltd. bought a new position in shares of Relay Therapeutics in the first quarter worth approximately $26,000. FNY Investment Advisers LLC grew its stake in Relay Therapeutics by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after buying an additional 5,000 shares in the last quarter. Quinn Opportunity Partners LLC bought a new position in shares of Relay Therapeutics in the 2nd quarter worth $35,000. DRW Securities LLC purchased a new stake in shares of Relay Therapeutics during the 1st quarter valued at $28,000. Finally, May Hill Capital LLC bought a new stake in shares of Relay Therapeutics during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.